China Owns Us...And So Do a Few Others

The Obama administration has admitted that China's holdings of U.S. bonds are nearly $270 billion more than what was previously claimed. But then what's a measly $270 billion mistake when you're dealing with an overall debt of $1.16 trillion to the Communist nation.

But wait, there's more. Red China only owns 1/4 of the U.S. debt that is owned by foreigners! That's right; a whopping $4.44 trillion of U.S. treasury bonds and other securities are held by foreign countries, companies and individuals.

You can take that Pepto-Bismol now.

Here's the AFP story over on Yahoo News.