Obama "Spend What You Have"

Back Peddling is a Direct Result of China Visit

I am certain as you are that the recent change in tone coming from the White House about debt and spending is a direct result of our Treasury Secretary’s trip to China. Invoking 2007 Democratic rhetoric “Spend What You Have” the administration is doing an about face as the world is threatening to bring our wild spending to a halt. This quick turnaround is on the heels of our leaders having to go pander to China to get permission to issue new debt and print more currency. We haven’t received the official politically correct download yet and won’t get the detailed version anyway but China and the rest of the world is FED up. We just got spanked!

Like Great Britain that couldn’t sell its bond to fund its debt at an attractive price – the US is heading right down that path. In fact, the major rating agencies are already preparing to downgrade the British Credit worthiness if they don’t clean up their act. Do we really believe this won’t happen to us? How much leverage does the world have over the US? Obviously a tremendous amount.

Now the spin is to make sure we don’t spend what we don’t have all of a sudden. With a Trillion dollar health care overhaul in Senate and projected $9 trillion dollar debt increase in the next decade (of course this will be higher) how can the DC elite keep running the nation into the ground. Political promises and emptiness to get elected and then borrow huge sums of money to make them happen is lunacy. Warren Buffet, Pete Peterson, Ross Perot – hey even Billy G – have stood up nationally and keep warning us about the grave nature of our National Debt.

Now our President has to listen to our Chinese parents that clearly have massive influence over the US. We got spanked for being bad children of the world. It is clearly because of our debt and need to borrow and spend trillions that we are fast becoming a second rate power in the world.