That’s correct. deficit. Not debt.
According to the Obama Administration, we will see an almost $19 Trillion U.S. Fiscal Deficit by 2020. Let me ask you this: when has an administration ever underestimated a deficit?
And to move things even further into the red, let’s do talk about U.S. debt.
What do you think is going to happen when all these obligations finally come due? Do you think the U.S. government will just going to whip out a credit card and transfer the balance at a “special introductory rate?” I don’t think the Chinese are offering that sort of incentive. In fact, I think they’re laughing as they devise their usury.
As Obama, continues his quest to become the next Franklin D. Roosevelelt, he should remember this: fighting Chinese is not going to be the same thing as fighting Germans and Japanese:
1. There are over 1 billion Chinese who would like nothing better than the re-visit the Korean conflict. You can pull out all the technologically advanced weaponry you like. Then start counting to 1 billion. Let me know when you’re done.
2. The Chinese don’t have any debt. The United States does.
3. Nukes? I don’t think so.
4. Texas won’t stick around. Neither will Alaska, California, Florida, Canada, or Mexico.
5. The U.S. is fighting two unwinnable wars of aggression already. Fatuous.
6. Chinese are used to being poor. U.S. consumers have an inflated sense of entitlement.