You all knew this was coming.
It is bad to owe money to the Chinese. It is even worse to go into default with them. They will cut off our line of credit if they do not think that they will be paid back. They might decide to do so anyway if Sino-American relations break down. Either we make some painful spending cuts soon, or we'll have to make excruciating spending cuts later. If the stock market continues to go up, Obama cannot use the economy as a pretext for more spending.
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2 comments:
I don't know about you, but I don't owe money to the Chinese. The Federal reserve probably owes money to the Chinese (probably? UGH!) Those slugs we elected to represent us owe money to the Chinese. Let them figure out how to pay them back!
Oh, and pity the poor Chinese-who are about to be ripped off!
Spending CUTS??
You're kidding right?
This isn't gonna stop for 4 years, maybe eight if The Messiah keeps passin' out dough to mo' po' folks.
And if he manages to somehow "naturalize" another gazillion illegals, he's assured 8 years to spend spend spend...
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