For those out there, like me, who had a sense that China was bankrolling our debt, here is a good summary of the issue: http://www.chicagotribune.com/news/...864.story?coll=chi-newsopinionperspective-hed Buyer's market The Bush administration's economic understanding with China puts U.S. companies on the auction block $170,000,000,000 ANNUAL U.S. TRADE DEFICIT WITH CHINA By Richard C. Longworth, a former Tribune senior correspondent and executive director of the Global Chicago Center at the Chicago Council on Foreign Relations Published July 10, 2005 Ah, those were the god old days when the Chinese were a billion red-book-waving communists and the China syndrome meant a nuclear meltdown, not a financial one. Now the Chinese are our bankers, and Beijing wants to buy us, not nuke us. Mods note -- please only post a few quotes with links. There are clearly a couple of things at work here. First, in virtually every way, we are becoming a nation without equity. Individuals increasingly owe more than they own, and our government can't control itself. I will be interested to read the "deficits don't matter" crowd respond to this.