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Government Finances-II-L

12 Jan

No one talks about who is holding the loans of our government. We can only print so much money without fueling inflation. President Obama kept a lid on inflation by borrowing heavily, but that can only be controlled so long. President Trump cut taxes so the economy began to bounce back but if we don’t control the debt, it will drain all our resources. President Biden has resumed the massive spending extensive government giveaways fueling inflation. Liberal politicians continue to push massive spending bills. When we reached our debt limit, liberal politicians pushed to increase the debt limit. It is easy to vote to do it but ignores the fact that we will reach the point where we can’t pay the interest, let alone the principle on the loans. They waited until the deadline where we risked a government shutdown if it wasn’t passed, and blackmailed conservatives into passing it to avoid a government shutdown. That is not how to run a government. The government should seek to find reasonable solutions, not blackmail its opponents to accept unreasonable ones. Another danger is that our creditors call in the loans. If we have a hard time paying the interest, we definitely can’t pay the principle.  China is one of the biggest holders of American debt and can easily use that to get preferential trade agreements and shape American policies in the Far East. The worst part is that China is getting overextended as well and selling the loans to the Arabs. That leaves us vulnerable to manipulation by the Arabs. They know that if they suddenly call in those loans, China would have to call in theirs, and we could not pay them, leaving us open to blackmail or worse yet they could simply shut off the funds which would cause our economy to collapse. Once it does, they can simply walk in and take over. Everyone needs to contact their Congressman (whether Democrat or Republican) and demand they cut spending and try to get the debt under control and in the next election, elect Congressmen committed to balancing the budget.

 

 

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