Beck has been mis-reporting the U.S. fiscal realities for some time, and is the 'poster child' for the misinformed, 'U.S. Treasury as a Household' analogy. This analogy is simply incorrect, and as Beck continues to propogate this analogy, he is actually doing more damage to the U.S. economy as the public is increasingly led to believe that our country has less fiscal options.
Here is a video from the impostor Beck (he is masquerading as an informed economist) where he is lamenting how "our banker" China can "take our assets".
He actually sounds deranged in this short segment. He sounds like he is starting to lose it by the end of the clip. (It's kind of funny!)
Glenn, please read here how China is not "our banker", and they have already been paid for their imports (in US dollars) and are simply placing their surplus US dollar denominated balances in ultra-safe US Treasury securities for the time being.
Mike, if he is trying to hold up Fox for more money, I suggest you tell Roger Ailes to just let him off the hook!