" the US government has had unprecedented budget deficits, and these are also financed with foreign money."

The US dollar is self funding, not reliant upon tax or borrowing revenue. In fact, both taxation and Treasury debt are "funded" by deficit spending. One cannot collect or borrow what doesn't yet exist.

All of you who claim that debt is always bad conveniently forget that we trade dollars (which we can never run out of) for "real" resources and labor that our trading partners must invest in the products we purchase. The only risk involved for us it the erosion of domestic supply chains and manufacturing that place us in a position of reliance. Those have nothing to do with the balance or any debt position represented as we will always be able to service the debt.

The US only accepts debt denominated in US dollars and Treasury bonds don't really care who owns them. Contrary to common misconception, bonds don't "fund" anything and actually reduce the currency in circulation. They are not a funding mechanism, and never really have been except as a balance to the gold reserve when we did that nonsense.