China’s no longer buying our debt

from PoliPundit.com by PoliPundit:

China’s no longer buying our debt:
We’re buying it ourselves:

[...]Speaking of facts, in the last year the federal government has added the equivalent of the GDP of Canada in new debt. Who’s buying it? The Chinese? Not so much. They’ve got pretty much all the Washington IOUs they need. Sixty-one percent of debt issued by the Treasury is bought by the Federal Reserve — which is to say the left hand of the U.S. government is lending money to the right hand of the U.S. government. That’s one reason the dollar is in steep decline against every major currency. Indeed, had it not

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