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Michele Bachmann at the Oct. 9, 2011 presidential candidates debate
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.
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