by: Trent Derr - Morning in America
As I mentioned to some friends, due to the amount of money the President is borrowing from the Chinese, Obama is no longer able to refer to the Chinese leader as Hu Jintao. Now Obama is required to call him Hu JaDaddy. To paraphrase Jay Leno, the bad news is the Chinese Leader came to the White House this week. The good news is he said we could keep it.
However I’m not picking on the Chinese. I’m opposed to the United States owing that amount of money to anyone. Let alone a country that crushes dissent in their citizens, imprisons their Noble Prize winners, thinks that America is a temporary aberration in history, and has nuclear weapons pointed at us. In any debtor relationship, you lose authority and the ability to negotiate from a level playing field. Anyone who doesn’t think it matters where you borrow money is a fool. Just ask a person who has ended up in “cement shoes” in the waters off of New Jersey whether it matters. But I digress…
Personally, I’m not as concerned about what our debt to China says about them as what is says about us. The reckless increased spending by the Obama Administration is not primarily being driven by building infrastructure, fighting a war, or funding social security. Continue...
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