One of the important components of our federal debt is the act of “sharing” debt owned by foreign countries. We like to view ourselves as the “pride of the world.” However, there’s not much pride in countries like China and Mexico owning our debt. Terence Jeffrey of CNS News reports that our foreign debt has hit a new record of $5.2923 trillion, a gain of 72.3% since Obama took office. Forget about “outsourcing jobs,” Barack. Obama is outsourcing the futures of our children and grandchildren through our debt sharing of foreign countries.
Our foreign debt is now equal to more than one-third of the entire U.S. economy. China owns $1.164 trillion of our debt, while Japan is the second largest stakeholder at $1.119 trillion.