NYT Spreads Nonsense on China Buying U.S. Debt

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The NYT told readers that: "China is the biggest buyer of Treasury bonds at a time when the United States has record budget deficits and needs China to keep buying those bonds to finance American debt." Nope, this is nonsense. People can get the real story from today's Krugman column, China has an unloaded water pistol pointed at our heads.

--Dean Baker

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