12. Romney added, "Does the America we want borrow a trillion dollars from China? No."
This continues to be misleading. The implication here is that U.S. debt is financed by the Chinese, but this isn't true -- China only holds about 8% of the nation's debt. No one has borrowed a trillion dollars from China; no one intends to borrow a trillion dollars from China; no one has recommended borrowing a trillion dollars from China.
8% of the US Federal debt is uh hmmm around a trillion dollars (actually more). This time Mitt rounded down. His claim is accurate. Of course Romney's tax cuts cure for the common cold and debt to China would make this number higher than it would otherwise be, but it is over a trillion already.
"in July 2012, $5.3 trillion or approximately 48% of the debt held by the public was owned by foreign investors, the largest of which were China and Japan at just over $1.1 trillion each."