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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
Feb 3rd, 2012
Clifford H. from Spokane, WA writes:
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We are We the People not we the goverenment
Feb 3rd, 2012
Anne & Stephen F. from Poplarville, MS writes:
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This is utterly ridiculous! This all has to come to a schreeching halt-If china owes us money then why are we not getting it from them and increasing our debt to them?
Feb 3rd, 2012
Dawn K. from Pasadena, TX writes:
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It is something everyday now. Our Gov. is completely inept! How could I possibly believe they care as much about America as so many of her citizens do... I'm tired of being their slave... old and tired... bring on the death panels has to be better than the labor for not...
Feb 2nd, 2012
Someone from Orlando, FL signed.
Feb 2nd, 2012
Patrick P. from Denver, NC signed.
Feb 2nd, 2012
Sheila K. from Dallas, TX signed.
Feb 2nd, 2012
Betty H. from Ellendale, ND signed.
Feb 2nd, 2012
Dale R. from Newport News, VA signed.
Feb 2nd, 2012
Someone from Saint Simons Island, GA signed.
Feb 2nd, 2012
Robert B. from Jacksonville, FL signed.
Feb 2nd, 2012
BENNY C C. from Oneida, TN signed.
Feb 2nd, 2012
Mike S. from Lagrangeville, NY writes:
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Pathetic to think all this debt just conveniently is passed on to American citizens by our government without a care in the world. Throw all the bums out is only answer, clean house and senate, never mind president.
Feb 2nd, 2012
Jeanne P. from Trenton, NJ signed.
Feb 2nd, 2012
Jordan C. from Seattle, WA signed.
Feb 1st, 2012
tori b. from Jacksonville, FL writes:
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THIS IS DISGRACEFUL!!!
Feb 1st, 2012
victoria b. from Jacksonville, FL writes:
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What in the world! Congress you have become UNLAWFUL , CORRUPT and UNRECONGIZABLE!
Feb 1st, 2012
Margaret J. from Springfield, OH signed.
Feb 1st, 2012
Richard K. from West Palm Beach, FL signed.
Feb 1st, 2012
Mary W. from Kingston, NY signed.
Feb 1st, 2012
Dennis B. from Clinton Township, MI signed.
Jan 31st, 2012
Henry E. from Curtis Bay, MD signed.
Jan 31st, 2012
Ellie P. from Spring, TX signed.
Jan 31st, 2012
Someone from Missouri City, TX signed.
Jan 31st, 2012
Kyle E. from Gardena, CA signed.
Jan 31st, 2012
Mike M. from La Crescenta, CA signed.
Jan 31st, 2012
Someone from New Carlisle, OH signed.
Jan 31st, 2012
Samuel F. from Chipley, FL writes:
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It's time we take a stand for what is RIGHT! We've coddled and babied other countries enough. We need to DEMAND what is rightfully ours and not give them any squiggle room at all until our demands are met PERIOD!
Jan 31st, 2012
Dottie M. from Springfield, OH signed.
Jan 31st, 2012
Someone from Portland, OR signed.
Jan 30th, 2012
Dave G. from Homer, GA signed.
Jan 30th, 2012
shirley m. from Phoenix, AZ signed.
Jan 30th, 2012
francisca g. from Deering, ND writes:
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payback is WAY OVERDUE!!!
Jan 30th, 2012
Anthony D. from Bellingham, WA signed.
Jan 30th, 2012
James H. from Springfield, OH signed.
Jan 29th, 2012
daniel k. from Salem, OR signed.
Jan 29th, 2012
TIMOTHY O. from Stockton, CA signed.
Jan 29th, 2012
NIKKI R. from Tifton, GA signed.
Jan 28th, 2012
Someone from Owosso, MI signed.
Jan 28th, 2012
Someone from Burneyville, OK signed.
Jan 28th, 2012
william m. from Mc Dermott, OH writes:
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they should pay their debts as we AMERICA pays ours.