Communist China (aka Red China) currently owns lots and lots of U.S. Treasury's - Could this possible pose a problem for the United States?
Put a different way, how could it not!
If you had to write a song that would in some way demonstrate the absurdity surrounding the amount of U.S. Treasury debt that is in the hands of Communist China, what song would you put it too?
There really is no way to describe the scenario in which the United States has become beholden on China for the subsidizing our deficit spending.
You couldn't have written a greater fiction save for the fact that it is true!
Communist China currently holds in the neighborhood of $1.2 trillion of our U.S. Treasury debt, the most by any foreign country.
The debt limit debate, the Left and the politics of fear
Instead of looking to increase taxes as a condition of raising the debt limit as the White House and Democrat leadership wants to do, why not look to do something novel such as cutting spending as the Republican leadership wants to do!
And, by the way, President Obama and his henchmen should try and refrain from utilizing the politics of fear in telling the American public about checks that would stop going out if no debt limit increase is agreed too, when those statements are simply not true!
China Debt to China Girl by David Bowie!
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