Chinese Debt is a Threat to our National Security

by Evan Hecht on Sunday, April 24, 2011 at 9:28am.

Donald Trump is an unlikely next President of the United States but he has been beating the danger of the Chinese drum since I heard him speak about fifteen years ago in Bakersfield, CA. That was when we owed the Chinese 4% of what we owe them today.

Why did the Soviet Union lose the Cold War? I like this person's answer: "An arms race bankrupted them. We were part of the same arms race but the Japanese, Chinese, Saudis and others kept loaning us money to spend beyond our means."



The US Department of the Treasury statistics state that the US owed China $47 Billion in April of 1998, http://www.newyorkfed.org/research/current_issues/ci4-5.pdf . The Treasury Department now says that as of April 2011 we owe China $1.154 Trillion, http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt .

The US Bureau of Labor Staitstics said our unemployment rate in April 1998 was 4.4%. That department now says that total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force is now 16.2%, http://www.bls.gov/news.release/empsit.t15.htm .

Citizens Against Government Waste put out their now famous ad campaign, http://www.youtube.com/watch?v=OTSQozWP-rM&feature=player_embedded .

Our big government out of control spending, if not curtailed, will be the end of The United Sates of America.



The US owed China only $47 Billion in 1998



The US owes China $1154 Billion in 2011

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