Brother, Can You Spare a Dime?

[biodieselman]

It's estimated Obama will saddle us with over $20 trillion in debt before he leaves office.

Click here to see National Debt Clock.

Debt Limit Coming a Month Earlier Than Expected (Updated)

By Niels Lesniewski Posted at 5 p.m. on Oct. 1

Updated 5:56 p.m. | The Treasury Department said Thursday it would reach the debt limit a bit earlier than was expected by many on Capitol Hill.
Treasury Secretary Jacob J. Lew told Congress in a new letter that thanks in part to lower-than-expected quarterly tax receipts, the extraordinary measures to forestall breaching the debt limit, combined with the new revenues, will run their course just a week after the resignation of Speaker John A. Boehner, R-Ohio, takes effect.
...

China is dumping U.S. debt

It's no secret that China is the largest holder of U.S. debt.

So should Americans be concerned that China has started dumping some of its Treasury holdings?

After all, it raises serious questions about whether China will keep lending Washington money to help finance the federal deficit in the future.
...
The selling and the potential that China will not be buying U.S. debt in the near future raises questions on its potential to increase America's borrowing costs.
...
Part of that move is likely due to Wall Street betting the Federal Reserve may raise interest rates next week. But market participants also suspect the unusual action in the bond market was driven by China dumping Treasuries.
...

[ame]https://www.youtube.com/watch?v=DyLmru6no4U[/ame]



Is drowning our children and our children's children in $20 trillion of debt still unpatriotic if Obama's responsible?

With China's economy circling down the toilet, who's gonna lend us more money?

 

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[biodieselman]

 

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