House GOP Wants Study of Chinese Treasury Holdings

Tuesday, 10 May 2011 02:53 PM

By Dan Weil

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China is the largest foreign holder of U.S. Treasury securities, with a $1.2 trillion portfolio. That has some House Republicans worried, The Hill reports.

So a GOP defense spending bill in the House would mandate a study on the amount of China’s U.S. debt holdings and whether that creates a security risk.

House Armed Services Committee Chairman Buck McKeon notes that Joint Chiefs of Staff Admiral Mike Mullen said last June that our $14.3 trillion government debt represents the "biggest national security threat" the country faces.

"Admiral Mullen was right to warn that America's debt is a national security concern that must be addressed," McKeon said. "This year's annual defense authorization bill will help Congress truly understand how much leverage China might have over the United States because of our debt, as well as the national security implications associated with the federal government's out-of-control spending."

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