Who Owns the U.S. National Debt? Essay -- Obamas National Debt

sunny are the young for they shall inherit the internal debt.-- Herbert HooverA youthful topic for policy-making debate, and one that is usually included in almost political rhetoric, is the national debt, and the debt ceiling crisis. I believe that there are many misconceptions active this issue, and that politicians use and promote these misconceptions for the purpose of making political arguments. The example of this that sticks out for me is a commercial I saw on television that seems to depict a future where the US has presumably been taken over by chinaware. That commercial seemed a little extreme, so for this paper, I seek to correct these sorts of misconceptions, or to at least show that most arguments about the national debt are a little wrong.Probably the most important misconception about the national debt is the misconception that China owns most of the national debt, and that such(prenominal) a situation makes the United States government a puppet to China. The last mentioned misconception doesnt take more than research to see as an exaggeration of the truth. contrasted personal debt, national debt isnt enforced by some high power. coin owed to China is a deal between the borrower and China, and there arent any higher powers to force the collection of debts. If China wanted to collect on that debt, the mop they could do is to go to war, and thats rather unrealistic. The main problem with this idea that China owns our government, is the fact that Chinas share of the national debt isnt as big as mountain seem to think. For this paper, I took a survey from 12 people. I asked them each, How much of the national debt do you think is owned by China? Of those people, 3 thought China owned more than 60 percent of the national debt, 4 though... ... to do.To conclude, the national debt is indeed an important issue that needs to be discussed, but it is important also to not take what you hear about it in political arguments as fact. Knowing the truth about issues a resembling(p) this can help you better understand what politicians are really saying, and impart help you avoid being manipulated by fear tactics like that commercial about a Chinese-dominated future.Works CitedHistorical Data on the Federal Debt. Rep. N.p. Congressional Budget Office, n.d. Web. 28 Mar. 2013. .Surowiecki, James. Smash the Ceiling. The New Yorker. N.p., 1 Aug. 2011. Web. 28 Mar. 2013.Who Really Owns the U.S. National Debt? Townhall Finance. N.p., 21 Jan. 2013. Web. 28 Mar. 2013.Herbert Hoover adducehttp//www.brainyquote.com/quotes/keywords/national_debt.htmlSP3YaWVBGy0KE3ET.99