While the economy is a major issue, and the state of several world economies are something to be taken seriously, claiming that the US Economy is "owned by China" is simply not true. It's been reported again, again, and again and apparently no one fact checks it anymore. America owes the most money to Americans. We own our own economy.

The issue of national debt is important, but let's not misrepresent and scare people more than they've already been. The China Boogeyman and the idea that the running a nation is like running your personal finances (complete with credit card metaphors) obscure how an an economic system works, and shifts the blame so we spend less time on it.

Source: http://globalpublicsquare.blogs.cnn.com/2011/07/21/who-owns-america-hint-its-not-china/