Political Quotes

John Spratt: This chart shows the percentages of our debt that are held by foreigners. As you can see, they have steadily increased…

On the recordApril 27, 2005
This chart shows the percentages of our debt that are held by foreigners. As you can see, they have steadily increased to the point where in 2004 the share of foreign-owned debt rose to 44 percent. One of the reasons that it is difficult to get this message across to the American people is that they are not really feeling the effects of it, since foreigners are buying for now a lot of our debt. But when and if they cease buying it in huge quantities as they have been, we have got a problem.
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John Spratt
South Carolina

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