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Tell Congress: GAO must give a FULL accounting of the debt CHINA owes to AMERICA

Congress has to WITHHOLD the interest owed China as an offset to the $750 billion THEY owe American citizens.

From 1900 to 1949 the Chinese Government issued hundreds of millions of dollars in sovereign debt-most notably, a large tranche of £25,000,000 issued at 5 percent in 1913. Backed by the full faith and credit of the Chinese Government, these bonds were sold to investors in the United States, Japan and Europe by international banks, primarily HSBC and Deutsche Bank, and were widely acquired by both banks and governments. The U.S. government holds a substantial portion of these bonds and, like more than 20,000 private U.S. investors, is entitled to remuneration.

When the Communist Party overthrew the government in 1949, the new People's Republic of China (PRC) has selectively refused to recognize or honor the bond obligations of the governments it succeeded. In the case of the debt owed to the United Kingdom, however, the PRC settled its obligations in 1987. Now, they need to settle their obligations to US.

The GAO needs to conduct a complete and accurate inventory of all U.S. Government holdings of all Republic of China sovereign bonds issued between January 1, 1900 and December 31, 1949, whether considered to be in default or not. In an era when sovereign debt obligations are critical, the U.S. Government should recognize ALL of its creditor relationships.

We need to add up exactly what China owes America, and refuse to pay them what they say we owe THEM until they pay US back -- instead of any more increases in our debt ceiling. GAO must give a FULL accounting of the debt CHINA owes to AMERICA. Congress has to WITHHOLD the interest owed China as an offset to the $750 billion THEY owe American citizens.

Public Comments
Mar 22nd, 2012
Michael K. from Land O Lakes, WI signed.
Mar 22nd, 2012
Steve & Marilyn L. from Fort Wayne, IN signed.
Mar 22nd, 2012
lynn h. from Randolph, AL signed.
Mar 22nd, 2012
Someone from Gadsden, AL writes:
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Dear Officials : All Government's are operated by man & or woman regardless of Country,therefore No Government should owe another Government a Debt ! ROMANS 13:8 Keep out of debt and owe no man anything,except to love one another ; for he who loves his neighbor [who practices loving others] has fulfilled the Law [relating to one's fellowmen,meeting all its requirements]. ROMANS 13:11 Besides this you know what [a critical] hour this is,how it is high time now for you to wake up out of your sleep (rouse to reality). For salvation (final deliverence) is nearer to us now than when we first believed (adhered to,trusted in,and relied on Christ, the Messiah).
Mar 22nd, 2012
Joe K. from Winfield, KS signed.
Mar 22nd, 2012
Hal l. from Chapel Hill, NC signed.
Mar 22nd, 2012
Someone from Largo, FL signed.
Mar 22nd, 2012
Robert M. from Gilbertsville, PA signed.
Mar 22nd, 2012
Pat m. from Clermont, FL signed.
Mar 22nd, 2012
Valorie M. from Saint Clair Shores, MI signed.
Mar 22nd, 2012
Angela M. from Glade Hill, VA signed.
Mar 22nd, 2012
Someone from Mahopac, NY signed.
Mar 22nd, 2012
Donald J. M. from Virginia Beach, VA signed.
Mar 22nd, 2012
Charles H. from Millsboro, DE signed.
Mar 22nd, 2012
Peter S. from New Buffalo, MI signed.
Mar 22nd, 2012
william H. from Jackson, MO signed.
Mar 22nd, 2012
Jerry G. from Lowell, MI signed.
Mar 22nd, 2012
ted k. from Pipersville, PA writes:
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It's about our government grew some backbone and recovered this money!!
Mar 22nd, 2012
Jerry E. from Mayer, MN writes:
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Why is this not being collected?
Mar 22nd, 2012
Rod K. from Granby, CO signed.
Mar 22nd, 2012
Joseph E I. from Crossville, TN writes:
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Could it be they just DON'T understand English? We COULD furnish some interpreters it that woud help.
Mar 22nd, 2012
shirley darlene h. from Nixa, MO writes:
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this is outrageous how this fed govn bows to this communist country, if they owe us trillions of dollars and yet obama wants another debt ceiling increase the answer is NO!!!!. we pay make them pay and if the congress and senate allows another debt ceiling increase the american people will take care of them in nov. this is absolutely rediculas and stupid that the american people have to keep paying and paying and yet allowed by this govn. to be walked all over by these foreign countries. ENOUGH IS ENOUGH REPUBLICANS AND DEMOCRATS.
Mar 22nd, 2012
Sid R. from Flowery Branch, GA writes:
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It is long past time for Congress to act on collecting the debts owed by China. Please act on this bill and collect this long over due debt. If in fact, China has paid the United Kingdom on these same bonds then they must also pay the US people who are holding them. It may take courage for you to make a stand on this obligation, but we elected you to do so.
Mar 22nd, 2012
david t. from Carrollton, OH writes:
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My only problem with this is if we insist they pay us now, they could do the same to us. Then where would we be?
Mar 22nd, 2012
Someone from Bridgeton, MO signed.
Mar 22nd, 2012
Henry B. from Waco, TX signed.
Mar 22nd, 2012
Billie T. from Jena, LA writes:
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Please get a move on. We need to get this going and make it happen. Lets see if our President helps or hinders.
Mar 22nd, 2012
Adrian M. from Sudbury, MA signed.
Mar 22nd, 2012
Ed H. from Memphis, TN signed.
Mar 22nd, 2012
James R. from Fayetteville, GA signed.
Mar 22nd, 2012
Lynn H. from Arlington, TX writes:
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They owe what they owe, pay up!
Mar 22nd, 2012
Christine D. from Martinsburg, WV signed.
Mar 22nd, 2012
Mike S. from Moline, IL signed.
Mar 22nd, 2012
Don H. from Brandon, MS signed.
Mar 22nd, 2012
Glenda H. from Louisville, KY writes:
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Stop borrowing from China when all we need to do is collect what they owe us!
Mar 22nd, 2012
Kyle K. from New Bern, NC writes:
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Obama needs to stop bowing to the world and man up!
Mar 22nd, 2012
tom b. from Kansas City, MO signed.
Mar 22nd, 2012
Someone from Louisville, KY signed.
Mar 22nd, 2012
Someone from Forsyth, MT signed.
Mar 22nd, 2012
jamie l. from Bastrop, LA signed.