After the debate, fresh facts to check
By Louis Jacobson
Published on Thursday, November 10th, 2011 at 5:13 p.m.
During the Nov. 9, 2011, Republican presidential debate in Michigan, Rep. Michele Bachmann took aim at the United States’ dependence on borrowing from China with the use of a striking statistic.
"By 2015, we will be sending so much interest money over, we will be paying for the entire People's Liberation Army of China, the No. 1 employer of the world," she said.
Officially, the Chinese defense budget is $91.5 billion for 2011. But many experts believe the actual figure is higher. The Pentagon estimates that China's military-related spending in 2009 was $150 billion.
Do Chinese investors including the government collect that much in interest? We found they didn't and rated Bachmann's claim False.
See individual item.
Researchers: Louis Jacobson
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