Academic

U.S.?S DEBTOR STATUS WORSENS DRAMATICALLY: ?Over the years, America?s status as a creditor or debto?

By Glenn Reynolds

U.S.’S DEBTOR STATUS WORSENS DRAMATICALLY: “Over the years, America’s status as a creditor or debtor has changed enormously. In the early 1980s, America’s net international investment position averaged $350 billion, or 11 percent of GDP, making the United States the world’s largest creditor. Today, it is the world’s largest debtor - by far. . . . Foreign governments have taken notice - in particular, China, which now holds more U.S. Treasury debt than any other country.”

Full post as published by Instapundit.com on June 29, 2009 (boomark / email).