By Michael D Shoesmith
Barack Obama is making headlines again with his desire to increase the debt ceiling to allow the nation to borrow more money in order to keep 'paying its bills.' And this time he's facing extreme opposition from Republicans who want to defund Obamacare, Barack Obama's health care scheme which requires everyone in the nation to purchase a product - health insurance. Opponents say it's too costly and will add undo hardship on an already wobbling economy.
But Barack Obama simply has no care for what borrowing more money from other nations and lending sources, and one of those sources is the nation of China, is doing to raise the debt burden of the American people. Following are two pieces of information I have gleaned by paying attention to the various news outlets via radio and television. I don't have links to audio and I can't give exact dates. This is simply first-hand anecdotal evidence.
"The nations debt is not a concern in the short term." Those were the words of Barack Obama back during the last debt limit standoff. Why would he say something like that? Why does he see borrowing money from nations like China to the tune of trillions of dollars as "not a problem?"
China should be worried about Obama's lack or concern about the money the US owes them... here's why.
Back in 2009, when Obama was putting together his cabinet, NPR was doing a series of interviews on whom he would pick, what their histories were, and where an unknown Obama entity would take the nation. A panel of 'experts' was discussing the nation's economic issues which were truly beginning in earnest as George Bush was leaving the office. One of these 'experts', a woman as I recall, was an insider in Washington and when asked what Obama would do with the debt owed to China the 'expert' responded with:
"If you owe a bank $100,000 the bank owns you. If you owe the bank $1 trillion dollars, you own the bank."
Question: did that 'expert' insinuate that America owns China? Is China simply there as a slave nation to make our DVD players and cheap trinkets only to serve as a repository for US dollars to be taken back at a time of our choosing? If America 'owns the bank'... and that bank is China... what should we expect to happen in the future since Obama said during the last debt limit debate "America's debt is not a problem in the short term."
What are Obama's plans for China... in the long term? Stay tuned!