The financial trap facing the U.S., China

The United States, the world's biggest debtor, and China, the world's biggest creditor, each passed major statistical milestones this month.

In the second quarter, the Commerce Department announced this month, the United States paid more to its foreign creditors than it took in from its overseas investments -- the first time that's happened in 91 years. The gap was relatively small, $2.5 billion for the quarter, when measured against a $13 trillion economy, but it was still a milestone.