"China owns us" or other exaggerations re: our national debt- nope, we owe us. Good short article

[AlinPA]

in the CS Monitor.

http://www.csmonitor.com/USA/Politics/DC-Decoder/2011/0204/National-debt-Whom-does-the-US-owe

[Pirate Smile]

1. Another one:"We don't manufacture anything anymore". Nope, we are still the largest manufacturer in

the world.

U.S. Remains Largest Manufacturer in the World



According to the Federal Reserve, the value of U.S. manufacturing output in 2008 was $2.946 trillion, measured in 2000 dollars. Converted to 2008 dollars (link), that would be about $3.7 trillion, and the chart above shows how the U.S. manufacturing sector compares to the entire output, or GDP, of the top five largest economies in the world in 2008 (data): Japan ($4.9 trillion), China ($4.3T), Germany ($3.7T), U.K. ($2.7T) and Italy ($2.3T).


Bottom Line: If the U.S. manufacturing sector were a separate country, it would be tied with Germany as the world's third largest economy. It would also be larger than the entire economies of India and Russia combined. As much as we hear about the "demise of U.S. manufacturing," and how we are a country that "doesn't produce anything anymore," and how we have "outsourced our production to China," the U.S. manufacturing sector is alive and well, and the U.S. is still the largest manufacturer in the world.

http://seekingalpha.com/article/179165-u-s-remains-largest-manufacturer-in-the-world

[RDANGELO]

2. In 1980 manufacturing was 22 percent of GDP.

Today it is about 11 percent. yes the USA is still the largest economy in the world; what has been the biggest change has been the distribution of wealth. The economy is structured to funnel all of the wealth to the top.

[quaker bill]

3. and how will they ever pay it off?

by typing numbers with a keyboard and clicks of a mouse to send the 1's and 0's to your account.