If We Continue To Fund Our Deficits By Borrowing From China It Is
As discussed in the column, Terror in the pits, there is more than one way for our national security to be challenged. There are of course the traditional ways of terrorist attacks and military attacks. The United States has, through uncontrolled and some might say irresponsible spending by our leaders in Washington, opened itself up to another type of threat, economic terrorism.
Funding The Deficit
With huge current deficits, and even larger deficits on the horizon if the Obama health care reform package is passed, the United States has become economically beholden to countries who not very long ago were our political enemies. China in particular hold massive amounts of our treasury securities, and we rely on them to continue buying more. We also rely on the fact that they will not begin to dump their holdings on a market already saturated.
Should China decide to stop playing ball with the United States, which granted would be counterproductive to that country, we will be in an even greater economic pickle than we are now. This political cartoon begins to show the depth of the problem..jpg)
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