THIS IS FALSE.
Allen said China owns more U.S. bonds than Americans. That statement is wrong on its face, but the Allen campaign offers a qualifier -- his spokesman said Allen’s statement is a reference to regular American investors.
But the reports Allen cites are not comparable and don’t even prove that narrower assertion.
Official debt tallies, even using Allen’s definition of ordinary American investors, show U.S. citizens held more government debt than China.
As an added defense, Allen’s campaign said Federal Reserve Chairman Ben Bernanke in February testified before Congress that he thinks China owns more than $2 trillion of U.S. government bonds. That still doesn’t prove Allen’s point.
FULL ARTICLE: http://www.politifact.com/virginia/statements/2011/jul/08/george-allen/allen-says-china-owns-more-us-bonds-americans/
The bottom line is that Allen’s methodology of including some U.S. investors and ignoring others is highly questionable, and his evidence doesn’t add up to his conclusion.
Saturday, July 9, 2011
About me.
Welcome to my blog. I am a Liberal as you could guess. I'm married to a good Italian Catholic lady (although I'm Agnostic), we have two daughters, three dogs and two cats. We live in the Historic District of our town in a 1800's Colonial home. I am very active in my local Democratic Committee and vote religiously. Feel free to post political comments and debate the issues. Remember though, WE ARE ALL Americans, therefore we are brothers not enemies. KEEP IT RESPECTFUL.
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