"[All told] Foreign governments and investors hold 48% of the nation's public debt. The next largest part (21%) is held by other [U.S.] governmental entities, like the Federal Reserve and state and local governments. Fifteen percent is held by mutual funds, private pension funds, savings bonds or individual Treasury notes. The rest (16%) is held by businesses, like banks, and insurance companies and a mish-mash of trusts, businesses and investors."
So, is all this wrangling and posturing merely a grand kabuki (or its Chinese equivalent) on the part of both parties intended to talk down our foreign debt?
I'm not suggesting a conspiracy, mind you. But the interests of the U.S. government are paramount for both the executive and legislative branches. Their actions may, in fact, be furthering those interests. Meaning, of course, even in its dysfunction, the government is actually somehow managing to further its own interests.