Our debt.

[alph]

This morning I was awaken by the thought of our national debt, and where is America going in the future.  How will this debt be paid off, and who will pay it.

It is a sad thought that I had.  It is a fight that will not have the spirit of its fighters.  Those that must pay the bill will not feel like there is anything they are fighting for.  There was a time in America that we fought for freedom, something that is priceless, something worth fighting for.  But now, with the national debt so incredibly big, when the creditor comes to collect it’s debt, the spirit of those that we ask to defend us will ask themselves, “fight for what? A debt that we owe, and what have we purchased that was not already paid for in blood?”

Our debt is 14 trillion dollars.  To foreign countries that were once our enemies.  They are not our friends, and yet they have the right to collect on that debt.  What shall we give them?  California? The west coast? Is it worth 14 trillion? Anyone that knows debt knows that it comes with interest.  Once they take the debt, will they also demand interest on the debt?  How much more are they entitled too?  Anyone that has been in debt, be it a car, house, or anything else, knows that the purchase of that item is bought at one price, but paid out a much higher price. 

My parents immigrated to America to be part of the dream of freedom.  To be part of the most powerful country in the world.  America was the growing symbol of excellence, liberty, justice, and the most important, freedom.  To be independent is freedom.  To not have debt, and not owe for your belongings is freedom, but now, we are a debtor nation.  We are enslaved to others. 

What do we have that is worth 30 trillion dollars, for everyone knows that debt multiplies.  What do we have to satisfy our debtors, how will we pay off out creditors?  I have never felt so frightened of the future.  So fearful of what is coming.  Will we ask our children to pay for our follies?  Is it right to give them our bill?  Who among you would have the face to give a child a present, along with demanding them to pay for it?  For that is what we have done to our children.  We have sold out our own flesh and blood.  When they are laying dead in the fields, fighting for OUR debt, ask yourself, what did we purchase, what price are we paying now.

When the creditor comes to collect what is rightfully theirs, what right do you have to fight them? 

Albert.

[solo1]

You're absolutely right!

It really is especially galling to me as a Korean War Vet to know that China is buying our debt(so far).  This is the same nation with the same form of government that killed many Americans during the Korean War.

The Korean War ended in a truce but China is winning against us now without firing a shot.  Apparently China can do no wrong now because it is considered as a big, big, trading partner with a cheap work force.  Unfortunately again, China is selling their goods to us and killing our jobs. Another one way street.

I do not like China.

[alph]

You're absolutely right!


I do not like China.

solo, i hate it!!  it kills me everyday!!  you faught for my freedom, and the freedom of those that have since given away that freedom!!  i'm so increadibly pissed off at all our politicians for doing to our country what they have done. 

(by the way, thank you.  thank you very much for the job you did.)

[Robert]

I re-posted what I had put on another post in case you didn't see it. There is so much info about this from the GAO too. There has also been many prophecies and telling about whats coming sorry Alph not trying to make this religious just giving all the warning signs. Personally I know the situation is not good but what is making it worse is the fact that there are some very powerful people that dont want to make things better. Also if you listen to things like the Aron Russo video about the Rockefeller it doesn't paint a good picture. But since no one really wants to tackle it and keep pushing it under the rug it will only get worse. Some of the things that would help in a real way without a major impact on the American people is buy back the Federal Reserve this alone would go a long way to helping the problem. Stop giving money away to most foreign governments especially ones that vote against us in the UN. Make people accountable for there own lives with help to those that really need it and stop the stealing by our own politicians who know how to make programs put their families in buisness and then close shop. Right now its every man for himself so if you think the debt is the problem then you really haven't thought about this.Because do you think human selfishness will ever stop? Its terrible to think that may loose what we fought so hard for. But this is where people have to be willing to go beyond themselves which is what our fighting men and women did.





U.S. Is Bankrupt and We Don't Even Know It:
Based on the CBO’s data, I calculate a fiscal gap of $202 trillion, which is more than 15 times the official debt. This gargantuan discrepancy between our “official” debt and our actual net indebtedness isn’t surprising. It reflects what economists call the labeling problem. Congress has been very careful over the years to label most of its liabilities “unofficial” to keep them off the books and far in the future
http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

[Hoser]

" When the creditor comes to collect what is rightfully theirs, what right do you have to fight them?"
We don't have the right, but we will have no choice.  Hoser 

[alph]

bob, keep religion out of it. 

it is the root of the problem.  if i tell a child "YOU'RE A LOSER, YOU'RE A LOSER, YOU'RE A LOSER" that child will become a loser.  if i tell a person "YOU'RE GOING TO HELL, YOU'RE GOING TO HELL, YOU'RE GOING TO HELL", that person will become a criminal and not care about any law.  if you tell people "IT IS WRITTEN, IT IS WRITTEN, IT IS WRITTEN", THOSE PEOPLE WILL NOT TRY TO CHANGE.

[x]

You're absolutely right!

It really is especially galling to me as a Korean War Vet to know that China is buying our debt(so far).  This is the same nation with the same form of government that killed many Americans during the Korean War.

The Korean War ended in a truce but China is winning against us now without firing a shot.  Apparently China can do no wrong now because it is considered as a big, big, trading partner with a cheap work force.  Unfortunately again, China is selling their goods to us and killing our jobs. Another one way street.

I do not like China.

Wayne, I don't trust China, and I think it is great that they are buying are debt.  Owe the bank 2 thousand and it is your problem.  Owe the bank 2 billion and it is their problem.
 
The Fed is doing the right thing.  By buying Treasury securities, they are effectively guaranteeing that the Chinese will be paid back in cheaper dollars... and they can't do anything about it.  It raises the costs of imports for Americans, makes our exports cheaper, and sticks the Chinese with paper that is worth less in the future.
 
The Chinese cannot sell... it would only make things worse.  It is a good hammer to have on the Chinese leadership.

[Charlie]

bob, keep religion out of it. 

it is the root of the problem.  if i tell a child "YOU'RE A LOSER, YOU'RE A LOSER, YOU'RE A LOSER" that child will become a loser.  if i tell a person "YOU'RE GOING TO HELL, YOU'RE GOING TO HELL, YOU'RE GOING TO HELL", that person will become a criminal and not care about any law.  if you tell people "IT IS WRITTEN, IT IS WRITTEN, IT IS WRITTEN", THOSE PEOPLE WILL NOT TRY TO CHANGE.

Amen!

I am thinking if it is written, I can't change it anyway, but I can do what I can to try to make things right, because I want it changed, not because it is written.

I think fine Americans accept what they are told via written word, leaders, etc..  People who care will unite and take action (hopefully the right action) to make positive change.  Sadly, there are considerably more fine Americans in this world than people who care enough to take action.

[Robert]

Man are you sensitive give it a break. If someone can tell you your a jerk and you become one then you have a couple of choices either your a jerk or have no ideas of your own or no back bone to learn and go your own way so drop the garbage. Even as Christians we have choices and this applies to what we do or dont do. Kinda like people doing the right thing. In fact if anyone that is so against this would study they would find ways to avoid the problems we face now and in the future. Its not set in stone unless we make the wrong decisions so WE make our future. You can be a hater either Christian or not but since you dont know and people take it wrong the Bible was meant as a warning just like I wrote we see the signs but still dont do the right thing. Thats what I meant and there are many stupid selfish people that see the signs and actually could help but dont. Now isn't that what your post is really about. OH and by the way it takes selflessness to help someone or change the way things are WHOS going to do that or are you just like everyone else crying in their beer over the failings of some men to not appreciate the lives and sacrifice put out by not only our fighting men but by people who founded this country. They take these gifts and use and abuse them while you and other cry about it with no real action at all except oh poor me.

[alph]

The Fed is doing the right thing.  By buying Treasury securities, they are effectively guaranteeing that the Chinese will be paid back in cheaper dollars... and they can't do anything about it.  It raises the costs of imports for Americans, makes our exports cheaper, and sticks the Chinese with paper that is worth less in the future.
 
The Chinese cannot sell... it would only make things worse.  It is a good hammer to have on the Chinese leadership.

I never thought of it that way.  Seriously.  So, we’re betting on America to do badly, just to destroy a communist nation?  That doesn’t make sense.  That’s like, not mowing your grass, or improving your property just so that your property taxes go down ‘cause you live in a dump. “?!?!”

But, is it the right thing to do?  I have raised my children to be accountable for their actions, not in the false hope that all they have to do is admit their wrong doings, then all is forgiven. 

[x]

Man are you sensitive give it a break. If someone can tell you your a jerk and you become one then you have a couple of choices either your a jerk or have no ideas of your own or no back bone to learn and go your own way so drop the garbage. Even as Christians we have choices and this applies to what we do or dont do. Kinda like people doing the right thing. In fact if anyone that is so against this would study they would find ways to avoid the problems we face now and in the future. Its not set in stone unless we make the wrong decisions so WE make our future. You can be a hater either Christian or not but since you dont know and people take it wrong the Bible was meant as a warning just like I wrote we see the signs but still dont do the right thing. Thats what I meant and there are many stupid selfish people that see the signs and actually could help but dont. Now isn't that what your post is really about. OH and by the way it takes selflessness to help someone or change the way things are WHOS going to do that or are you just like everyone else crying in their beer over the failings of some men to not appreciate the lives and sacrifice put out by not only our fighting men but by people who founded this country. They take these gifts and use and abuse them while you and other cry about it with no real action at all except oh poor me.

I think what alph is trying to say is that this is a discussion of economics... for better or for worse... and you have seen fit to introduce religion.  You may make your own choices on the basis of your religious point of view but you add little to the conversation with your polemic religious rants.

[x]

The Fed is doing the right thing.  By buying Treasury securities, they are effectively guaranteeing that the Chinese will be paid back in cheaper dollars... and they can't do anything about it.  It raises the costs of imports for Americans, makes our exports cheaper, and sticks the Chinese with paper that is worth less in the future.
 
The Chinese cannot sell... it would only make things worse.  It is a good hammer to have on the Chinese leadership.

I never thought of it that way.  Seriously.  So, we’re betting on America to do badly, just to destroy a communist nation?  That doesn’t make sense.  That’s like, not mowing your grass, or improving your property just so that your property taxes go down ‘cause you live in a dump. “?!?!”

But, is it the right thing to do?  I have raised my children to be accountable for their actions, not in the false hope that all they have to do is admit their wrong doings, then all is forgiven. 

It is acknowledging reality.   This is not about 'betting on America to do badly', it is about taking advantage of the Chinese who have been taking advantage of artificially depressed exchange rates for at least a decade, if not more.
 
It is the the advantage of the US to see it's currency depreciate against other currencies.  Beyond China, the US is the reserve currency in the world, and this won't change for at least two decades.  But, being the reserve currency drives our currency artificially high against others.  Better that we drop.  We pay more for oil... and reduce imports.  We pay more for Chinese stuff, and reduce imports and make American industry more competitive.
 
The only people really unhappy with this are bond holders.

[alph]

Man are you sensitive give it a break.

....are you just like everyone else crying in their beer over the failings of some men to not appreciate the lives and sacrifice put out by not only our fighting men but by people who founded this country. They take these gifts and use and abuse them while you and other cry about it with no real action at all except oh poor me.

You think I’m just stewing in my beer?  Listen, I like porn, not beer.  And if you think I’m not complaining about the local school district, or government, you obviously don’t know me!!  I just got off the phone, calling a local radio talk show asking the guess of the show (the school districts superintendant) what right he has to charge the  Girl Scout Daisies $28 just to use the school building to assemble a new troop, while the local “GLASS” club doesn’t pay a dime!!  Its people like you that have double mortgages on their homes, paying 10% interest for their car payments, and then crying to Uncle Sam that you need assistance from your creditors and that THEY must do something!!

I know people that have internet service, cell service, cable TV, eat out every night, go to the doctor if they feel wheezy, charge everything on credit cards, and can’t afford living in their ½ million dollar houses, AND THEY DEMAND HELP FROM THE GOVERNMENT!!

Is it any wonder why I hate politicians?  They’re representatives of the people that elected them.  No wonder America is screwed.
 
Listen.  George Bush JR. was elected because SO many Christians believed that he was “pro-life”.  Well, he didn’t do anything against abortions now did he?  But he did give AIG and many other banks a TRILLION DOLLARS right before he left office, didn’t he?

[solo1]

I'm going to stick my neck out just once and I will not reply.

I'm a Lutheran.  I believe in the teachings of the Lutheran Church, Missouri Synod.  I believe in trying to lead my life as a Christian and to treat others as I want to be treated.  

I do not personally believe in evangelism on this board. Period.

I am tired of religious posts.  I am tired of antireligious posts.

This thread was started by Alph out of his concern for our Republic.  I truly appreciate that.  It's a topic that should concern us all.

As RJ would say using Forest Gump: " And that's All that I have to Say about That"

Wayne

[alph]

i'm through with this subject.  i've made my point.

NEXT PLEASE!!

[Oss]

S.E.  from a macroeconomic view it is correct that by purchasing our debt (hey the chinese and arab oil states need to park the money somewhere) they have become subject to the currency fluctuations which nation-states are to some degree able to control.


about twenty or so years ago we pulled this on the japanese and their corporations had to sell real estate (most notably rockefeller center) back to US corporations.   A follow up question is who will be holding money to buy back the resources and property that currently we are allowed to sell to foreign nationals and foreign governments and SHOULD we be doing so in the first place.



If it is the intent of those who pull those strings on our behalf to allow the dollar to sink then yes of course the chinese and others will be holding less than they bargained for and we will be paying the debt with deflated dollars, or we may be able to make other nations FORGIVE the debt.

National debt is forgiven all the time.  Look at 3rd world nations who get billions from the UN and world money bank.  Maybe one day we will be able to say to the world if you want us to bail your ass out our debt must be forgiven.  Wont that be nice?
Alph, you cant take the money with you, and it does you no good dead.  I would not lose sleep over the national debt, spend the time regarding your family, they are all that matters in the end

[Walküre]

/
I never thought of it that way.  Seriously.  So, we’re betting on America to do badly, just to destroy a communist nation?  That doesn’t make sense.  That’s like, not mowing your grass, or improving your property just so that your property taxes go down ‘cause you live in a dump. “?!?!”

But, is it the right thing to do?  I have raised my children to be accountable for their actions, not in the false hope that all they have to do is admit their wrong doings, then all is forgiven. 

Sorry, Alph, but true...it started with the "hero" republican, who out-spent the Russians, to bring them down. It brought us down in the process, just that few saw it as the beginnings. Spend, spend spend, but cut taxes, cut taxes, cut taxes. Of course, they wrote it off as "defense", and it doesn't appear in the budget 100%. But it was still spent.

the unemployment rate under Reagan went from 7.6% to 9.7-9.8% in the summer after his inaugural, and remained at that level for two years, before it began to decline in the summer of 1983. In "Obama-time", that would be the equivalent of the summer of 2011. Moreover, the economy did not begin improving until the Spring, 1983, in "Obama-time" that is Spring, 2011.

We had a saying - "think Reaganomics is working?? Ask everyone who ISN'T!!".

Sure, NO one wants to pay more taxes. But we've lived high on the hog for a long time, while facing an older (baby-boom, remember??) population, that is living longer, and needing a bigger percentage of the national wealth. Time to pay the piper...

Certainly, as good students of history, you recognize that Reagan did not inherit the worst financial crisis since the Great Depression. Nor did he inherit two wars, nor the collapse of the automobile industry, nor 8 years of budget profligacy, nor the radical right wing championing (and avoiding service in) another war or two or three. The retirement of the baby-boomers was 25 years in the future, not already ongoing and accelerating.

And, of course, you don't need little Johnny Boehner to tell you that tax rates, even for the wealthiest Americans, are now already 14% lower than Reagan's 1981 tax cut, nor that 95% of Americans received a tax cut in the Obama stimulus, nor that tax rates will still be 10.5% lower for the wealthiest when Obama allows the George W tax cuts to expire, nor that those cuts were intended to expire for the simple reason that they were projected then to cause to big a hole in the deficit.

Sadly, I've given up. This election just proved that things are going to remain the same - I woke up today, and didn't see unemployment miraculously cured, the debt any lower, or any change in the "NO!!" that has prevailed in the House. I DID prophesy that the Stock Market would gain 500 points in a week - we're well on the way, and I stand on that. Of course, when the "winners" decide to take profit, the gains will fall again, but the big wheels will have made another big chunk of change, and the rest of us, who's pensions are determined by the market, will have taken the hit. As always.

And, in two years, it may swing again, when the current winners in the House, discover that they are in over their heads, also.

I know!!! Let's bomb Iran!!!!!

Geez...

[Chattanooga Mark]

If you think we're hurting China, or any of our countries creditors, by making our money worth less; you're only partially right. Who else will be hurt? All of us, anyone who uses US currency. Your savings, 401(k), pension, retirement fund and everything you own will be greatly reduced in value and/or future buying/earning power. Inflation will ruin even the best savings plan at our current rate borrowing and money printing schedule.

The answer for the US is first to admit we're bankrupt and in real trouble. Politicians from any party very seldom speak the real truth. We cannot simply tax 'the rich' at higher rates, borrow or print more money. When you're in a hole, the last thing you need to do is dig it deeper. It is impossible to tax, spend and borrow yourself, your family, your county, your state or your country to prosperity.

Mark


   

[Robert]

SE why is it that all who see the world and try to understand it do so with mans expectations and its all accepted. Even when they only offer knowledge after things have happened.  I know my point of view is a different than most here, so why am I feeling not accepted by you and Alph and all who claim differences are a good thing? My point of view and world knowledge was fashioned after not wanting to be blind sided by world events and finding no other explanation as to why these events are taking place except in the Bible.  I'm not talking religion but the worlds reasons for functioning the way it does. It is beliefs in whatever, wanting to be the rich or just wanting control of all things or building a company that fashions this world and the companies and governments in it. Just because you and Alph dont understand why things really work at least be accepting of me.
  When you can explain to me why the world hates Jerusalem or that the Palestinians cant find peace or why there will be no Mid East peace then I will listen until then please understand that this is not about religion but about human nature about finding what really makes our world up and finding no other explanation. I have had to do much research into allot of things to find if what I believe is true or not. I too hurt for the US I hurt more when I see so many injustices, corrupt judges, corrupt politicians, people hurting other people that I wanted a answer and something that made sense it was the only thing I found and so thats why I think differently and will continue to express my point of view and say its not religion. I at least through my understanding and beliefs have made some significant changes in lives and how people interact with the world. I have many stories that is my hope in this world one individual one changed life at a time. My understanding doesn't just end there but goes on to help lives what does yours do? I have a peace and joy that goes beyond what I see.

[Walküre]

SE why is it that all who see the world and try to understand it do so with mans expectations and its all accepted. Even when they only offer knowledge after things have happened.  I know my point of view is a different than most here, so why am I feeling not accepted by you and Alph and all who claim differences are a good thing? My point of view and world knowledge was fashioned after not wanting to be blind sided by world events and finding no other explanation as to why these events are taking place except in the Bible.  I'm not talking religion but the worlds reasons for functioning the way it does. It is beliefs in whatever, wanting to be the rich or just wanting control of all things or building a company that fashions this world and the companies and governments in it. Just because you and Alph dont understand why things really work at least be accepting of me.

Maybe, Robert, because of statements like the highlighted above - this is JUST as insulting to people, as what you consider insulting to you. I see it time after time, how you proclaim that YOUR way, and YOUR beliefs are the only "correct" ones, and because WE haven't been "enlightened" by YOUR beliefs, WE are the ones in the wrong. Trust me, some of us are just as disgusted by what we believe superstitious false beliefs, as you are by our "going to hell" beliefs...

It's pretty simple, really...

[Robert]

SE states keep your religious beliefs so that means that he doesn't understand where I am coming from just like you. I dont understand all the doctor tells me but I will after awhile, does that make me stupid or unenlightened no just I dont know. So when the doctor explains I begin to understand and that helps me. But if I went to that same doctor and he tries to explain something to me and I say your wrong keep your opinions to yourself then hes going to look at me like I'm a jerk. Because hes talking to me from a different point of view with some knowledge I may not have. So when I say you dont understand, you dont, but what I didn't  say was your own prejudice stops you from looking any further to see if there may be something there. The minute I mention the Bible or God then all hell breaks loose. Maybe I'm trying to explain something you may have over looked in your first try. Its not religion to look at world affairs and want to have  deeper meaning into the intent of people hearts and to why there cant be peace and some will not accept others. Some times its just plain mans selfish desires but sometimes there are greater powers at work than we may want to admit or understand. Ghosts what are they where do they come from why are they here do you have these answers? Have you looked are you even interested? That doesn't make you stupid you just dont know. The Bible never says you have to do this or that it only tells of the consequences of decisions and you make your own choices.  Thats why I read it, it gives situations,examples and results and if I carry them over to today they still hold true. Im sorry that the first thing out of peoples mouths are your going to hell. What a poor witness. But I cannot be held responsible for what another man has done in the name of religion, I know who I serve and am proud of it and grateful and am sorry His name has been dragged through the mud and people have been hurt. Its a loose loose situation and has nothing to do with the Bible.

[fstsix]

Robert, as we know they will never understand, the Wealthiest Man was also mentioned in the Bible, King Solomon's teaching are still read today, And some still do Not get it.....This does as you say directly relate to (OUR DEPT) Topic HERE! as this will explain exactly the Wisdom to become Dept FREE !!....But it must be True....because it is Noted on Wiki    Solomon

The Bible contends that King Solomon held a fortune that dwarfed any and every person that lived before him, making him the wealthiest man in the world. Each year, Solomon received 25 tons of gold.[8] This did not include income derived from business, trade, nor the annual tribute paid to him by all of the kings and governors of Arabia.[9] King Solomon's throne was coated in pure gold and inlaid with ivory. It had 6 stairs, 12 lion statues (1 on either side of each step) and a solid gold foot stool. Two larger lion statues stood on either side of the throne.[10] Artist Rendering of King Solomon's Throne

All of the goblets and household articles in Solomon's palace were pure gold.[11] King Solomon was reportedly so rich, that during the years of his reign over Jerusalem, his immense wealth caused silver to be considered of little value and as common as rocks. As such, nothing in Solomon's palace was made of silver. The same devaluation was noted of cedar wood;[12] a lumber which, at the time, was considered to be of great value and significance, both monetarily and non, for many societies throughout the region and beyond.[13]  http://en.wikipedia.org/wiki/List_of_wealthiest_historical_figures

[Chattanooga Mark]

I'll talk bible doctrine vs. church doctrine vs. world doctrine all you want. But this thread started as a point of view about the debt level in the US. Can't we just agree to keep the posts on topic.

Trying to argue bible doctrine on so many threads is hurting and not helping anyone. Why can't those who are blind, deaf and dumb about the bible stop using it to show their ignorance. At the same time, those who my know something about the bible ought to excercise enough discernment to know when to post and when to pass.

Just a thought,

Mark

[fstsix]

I'll talk bible doctrine vs. church doctrine vs. world doctrine all you want. But this thread started as a point of view about the debt level in the US. Can't we just agree to keep the posts on topic.

Trying to argue bible doctrine on so many threads is hurting and not helping anyone. Why can't those who are blind, deaf and dumb about the bible stop using it to show their ignorance. At the same time, those who my know something about the bible ought to excercise enough discernment to know when to post and when to pass.

Just a thought,

Mark

Hey Mark! I'll keep that in Mind the next MC event i volunteer at, When a Non believer tells Us at "CMA" they don't want us here? With all the sex Fowl jokes that fly, Boobies and whatever...Brother you should be helping for Jesus...or are you Ashamed ??  But remember you are Advertising your Church on Every One of your replies !!Shame on you !!! If you do not understand the Truth about finance, and think Mans wisdom and Lies can solve this American Dept? here you can start here...http://www.heritage.org/research/reports/2010/10/how-to-cut-343-billion-from-the-federal-budget

[3fan4life]

...... you add little to the conversation with your.... rants .......

Talk about the pot calling the kettle black

[Chattanooga Mark]

fstsix,

      I stand by my post and don't think every other thread on this site needs to turn into a religion and political bash fest. I'm not sure what you're talking about though.

Mark

[Brad]

You're absolutely right!

It really is especially galling to me as a Korean War Vet to know that China is buying our debt(so far).  This is the same nation with the same form of government that killed many Americans during the Korean War.

The Korean War ended in a truce but China is winning against us now without firing a shot.  Apparently China can do no wrong now because it is considered as a big, big, trading partner with a cheap work force.  Unfortunately again, China is selling their goods to us and killing our jobs. Another one way street.

I do not like China.

Wayne, I don't trust China, and I think it is great that they are buying are debt.  Owe the bank 2 thousand and it is your problem.  Owe the bank 2 billion and it is their problem.
 
The Fed is doing the right thing.  By buying Treasury securities, they are effectively guaranteeing that the Chinese will be paid back in cheaper dollars... and they can't do anything about it.  It raises the costs of imports for Americans, makes our exports cheaper, and sticks the Chinese with paper that is worth less in the future.
 
The Chinese cannot sell... it would only make things worse.  It is a good hammer to have on the Chinese leadership.

The Chinese will survive this before we will.  Everything we use or eat is a world commodity.  The higher cost will have a very negative impact on every American family.  If we have any savings it will be worth less and we will use it up to survive.  Also many people in China are already used to living in mud huts and grass shacks and eating bugs.  It will be a new experience for all of us in America.  There has to be a better plan.

[Chattanooga Mark]

An attempt to hurt our creditors by making our money worth less is not good policy, regardless of who implements it. If the US gets to the point of needing our debt forgiven, we will have sunk to a level of a third world country. Again, not a good situation for the US.

Why is it so hard to just stop the earmarks and reduce spending? So many of the earmarks have scheduled increases and only in Washington is holding to the same level of spending called a cut.

Mark

[fstsix]

fstsix,

      I stand by my post and don't think every other thread on this site needs to turn into a religion and political bash fest. I'm not sure what you're talking about though.

Mark

Sorry Bro, You must understand what is going on..Dept is Bondage without the chains..Man  AKA (Government) will never give us freedom, it is a Gift from God "Unalienable rights",,It has everything to with American Dept,, Greed Lies and dishonesty in  Congress , Left or Right,,, Does one think this massive dept is a computer error ? or a example of Taking our freedom away through Taxation and Health care Laws, BTW if the repubs Compromise and do Not completely Repeal this Healthcare abortion,,,those chains will tighten around every Americans neck,, Warning to Repubs!!! YOU ARE on PROBATION!! If you read the principles of True Conservative PHD's for a Budget on the link that i put on your response you will see How God fearing people will have a Better way to live More conservatively, Please don't make me Cut and paste that link,.. This is exactly why i always do!! That proposal is the Real deal, Look at it and you will see PORK spending that needs to be Cut to Balance the Budget,,,Also the CBO is playing Politics by Not Voting before this midterm election in Fear of Exposure of a Irresponsible Congress,,,This is Detrimental for any Corporation or Small business trying to make decisions for reasons of Economic expansion,,, Just more Lies form this Administration to Blame the next party and throw the Bag of hot potatoes at them and say It's Bush's Fault,,,The Blame Game!!! This psychology is Ramped and pushed through America's Education System,,Just a way to always Blame someone Else for a excuse to Never Hold Anybody Accountable...I Am Accountable