Really? US owes China 1.3 trillion dollars. So the BIG BAD China debt is only 7-8% or less of a single year's GDP.
In the grand schemes of things it is pocket change.
In the grand schemes of things it is pocket change.
Also government debt is rarely paid off - it is usually grown out of and revolved. What US lack is economic growth thanks the "serious" people that push for austerity.
Also rule of thumb - anyone that uses a country budget is like the family budget analogy is - liar, dumb or ignorant. That is very quick filter by which you could judge politicians.