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What Does Trillions of Dollars in Debt to China Mean for Our Future?: Left of Center View

When you owe a lot more than you can ever hope to pay back, does it really matter who holds the debt? Sure you would rather owe the money to someone who will be understanding and lenient, but those just don’t seem to be the people that have the money to loan in the first place, Mom and Pop aside. So does our government owing Trillions of dollars to China really make a huge difference? Actually, since the Chinese resurgent economy is heavily reliant on a solvent U.S. marketplace for their continued success, owing money to China may in fact be a best of the worst case scenario.

The majority of the goods that are produced in Chinese factories are shipped back to and sold right here in the good old USA. It’s all part of this “out-sourcing” thing everyone’s been talking about. Actually it worked better than anyone expected. The American executives are making money hand over fist by not having to pay the high manufacturing costs that producing the goods here would warrant. Hell, with no tariffs and minimal taxes, just the cost of shipping alone is almost nothing, allowing companies to charge little more than the cost of domestically purchased materials and still see a profit margin of 100-300%. And get this, since all of the production jobs have now moved overseas, the workers who could once afford to buy the products they made, are now in such dire financial straits that they can only afford to buy the cheapest products, most of which come from – ta da – China.

With no jobs, or very low paying options, to maintain the American lifestyle most folks, and the country itself, all going into massive debt. Up until now financial institutions have been lending, lending, lending while knowing full well that not all of these loans would be paid back. Actually, it’s part of their business model. Financial institutions don’t ever want you to actually pay off your debts. It’s the interest on the loans and the penalties they charge for late or non-payment, that constitute most of their profit margin.

For a homeowner that pays their mortgage for 25 years on a 30 year loan and then due to, say a catastrophic illness, can’t make 6 payments, it is a nightmare. For the bank that holds the title, it is a wet dream. The principal amount of the loan was probably paid off after the first 15 years or so, the rest is profit, but now instead they get the home itself, which if everything goes according to plan is now worth a lot more than it was when it was purchased 25 years ago. Even by selling the property below market rates, the return on investment is huge. The only possible scenario that wouldn’t hold up here would be if everyone declared bankruptcy AND the housing market plunged at the same time. If that happened you would have an economic meltdown of historic proportions, kind of like, well kind of like what we have now.

So when you find yourself owing more than you can ever pay and knowing sometimes more important than whom we owe the money to, is why the hell do we owe so much money in the first place. It’s bad enough when we as individuals get ourselves into trouble, but when the government does, we have to start asking basic questions, such as “How the hell did this happen?” My guess is that it has something to do with the government having to cough up a couple of billion dollars every six months or so to bail out another failed industry. That, combined with the tens of billions we are spending on the continued occupation, sorry I mean, liberation of Iraq. The Bush administration has been acting like a drunk in a Las Vegas strip club, handing our big bills to keep the party going, sooner or later those $500 bottles of Champaign will catch up to you. As soon as they figure out you’re broke, you’re out the door, no matter how much money you’ve spent in the past half hour, and the only place you have to go is home, which is falling apart because you never seem to have the money for repairs.

Speaking of spending money on fixing up things at home, McSame and Caribou Barbie, the incumbents for change, have been calling the Obama plan for spending three trillion dollars here at home “irresponsible”, all the while leaving our credit-card on the table for an open ended dinner party in Iraq. The war is costing us far more, just in fiscal, not counting physical, terms, than all of Obama’s planed expenditures combined. It’s time that we brought our soldiers home, it’s time we focused on the home front. Though, I do have to give the Bush administration credit for keeping one campaign promise. They have really done something to quell illegal immigration. Things in the U.S. have gotten so bad that immigration numbers are the lowest they have been in decades.


Kyle Pesonen - Staff Writer | E-mail Comments on this column. | Click icon to Digg this article

Got a liberal viewpoint? We want to know what you think.

Next week's subject: With Our Economy Failing, Will America Become the World's Next Cheap Labor Source?

Send in your view from the Left to be our featured Left of Center View for the week.

Click here to submit your article.

Last Week's View from the Left:
Could the Bailout of Wall Street Lead to More Foreign Investment in America?

Previous Weeks Views from the Left:
Could Open Borders Ever Be A Viable Option For America?
How Should American Immigration Policy Be Reformed?
What Would The American Economy Look Like Without Undocumented Workers?
Can International Trade Save American Jobs?
Would Harsher Sentences for Undocumented Criminals Lower Crime?
Will There Ever Be Comprehensive Immigration Reform in America?
Do Undocumented Immigrants Pose a Health Risk for Americans?
How Will the Oil Crisis Impact Foreign Policy?
What is a Fair Path to Citizenship for Undocumented Workers?
Which of the Presidential Candidates Will Bring the Best Immigration Policy Into Office?
Outsourcing, Bad Trade Policy and Recessions
Is America Capable of Breaking Free from Foreign Oil Dependency?
What Does the Globalization of Big Business Mean for America?
Are American Car Makers Ready for the Oil Crisis or Will Japan Reign Supreme Once Again?
Does Dependency on Foreign Oil Endanger America?
What is a "Real" American?
Racial Profiling - Is It Ever OK?
Who Wins When Undocumented Workers Come to America?
NAFTA and the Election
How Can We Curb Illegal Immigration?
Fear Mongering and Illegal Immigration
Border Security and the War on Drugs
Outsourcing or Undocumented Workers: Which Hurts American Workers More?
Sierra Club vs. Border Fence
Who Owns America?
Redefining Immigration
Racism and the Immigration Debate
Free Trade vs. Fair Trade
Migrant Farm Workers and the Cost of Groceries
Archives by Date




What Does Trillions of Dollars in Debt to China Mean for Our Future?: Right of Center View

It means that we should start teaching our children to speak Chinese because they pretty much own our asses. Thanks to the incompetence of Washington and the backroom deals of the politicians to sell out the American people we will be at the economic mercy of China for the foreseeable future. America has been sold out for cheap trinkets on the shelves of Wal-Mart. We just might lose the country the same way we got it from the Indians. Instead of blankets with smallpox we’ll get food with melamine in it.

Love them or hate them the people in Washington during the Clinton years found a way to make more than they spent and for the first time in a long time left office with a budget surplus. Fake conservatives like George W. Bush who spend money like there will never be a price to pay have left us at the mercy of a communist regime with a history of conquest. How long will it be before China decides to stop lending to us and begin calling in the markers? How long before we can’t pay and China decides to get their repayment in American lands and property? This is a fine mess the jackasses in Washington have cooked up for America.

Now as we approach the upcoming election we have a choice between a tax-and-spend liberal and a Bush economic policy drone. What a choice… There are some very good Independent candidates but none of them are getting a second look from most Americans because they don’t have access to the deep Party pockets of the Democrats and Republicans.

The truly sad thing is that we haven’t had a truly fiscally conservative Republican in the White House since Eisenhower. As much as Republicans like to tout their economic policies, Nixon took us off the gold standard and every one of them since Ronald Reagan has spent money without a reasonable means of paying for their spending. Even sadder is the fact that Eisenhower in his parting address to the nation warned us to be wary of the people trying to make the military a growth industry because it would bankrupt us if we weren’t careful. Well what do you know, he was right.

As a fiscal conservative of many years I can honestly say that I’m leaning Democrat these days. At least they are honest about raising taxes and spending the money to level the playing field from their point of view. I may not like that they are raising taxes but, truth be told, it’s rarely mine that they raise. The more I think about it, let them make the rich guys pay more. They can afford it. I don’t make a lot of money and so they look at me as being one of the people they need to level the playing field for. The Democrats have too many social programs and are a bit too tree hugging overall but they at least tell you they are going to spend the money. These “neo-conservatives” prefer to hide their pork barrel spending in euphemistic, patriotic sounding bills and borrow the money from China instead of making sure they write a budget that pays for itself.

If I thought they had a prayer in hell of winning the race I would vote Independent but since I would be essentially throwing away my vote to do so, I think I’ll support the honest robbers instead of the shady dealers. Maybe if we have another eight years of the Democrats in the White House we can pay off some of the debt and only leave our children with four or five trillion in debt like it was before the neo-cons took over.

Now that’s not to say that we should vote Democrat across the board. History shows that a Democrat in the White House with a Republican Congress is usually best for Americans economically speaking. I personally think we could just do an overall house cleaning and get the best result. If we all voted anti-incumbent party for every race we might actually get change that counted for something. If your current senators and representatives are Republicans, vote Democrat and vice versa.

This should be the “throw the bums out” election for America. The people there, whether through action or inaction, have been the problem so kick them all out. It’s time for some new blood in American politics. Obama is new to the scene so give him a chance. If he’s horrible then we vote him out in 2012. McCain has not made much of a tangible difference in Washington over the more than 20 years he’s been there and he picked an airhead worse than Dan “I can’t spell potato” Quayle for his VP making his judgment a bit questionable. Let’s get rid of the old guard in Washington and start fresh. Call it a “restructuring” of Washington because we need to improve America’s business model.

The Realist - Patriot at Large | E-mail Comments on this column. | Click icon to Digg this article

Got a conservative viewpoint? We want to know what you think.

Next week's subject: With Our Economy Failing, Will America Become the World's Next Cheap Labor Source?

Send in your view from the Right to be our featured Right of Center View for the week.

Click here to submit your article.

Last Week's View from the Right:
Could the Bailout of Wall Street Lead to More Foreign Investment in America?

Previous Weeks Views from the Right:
Could Open Borders Ever Be A Viable Option For America?
How Should American Immigration Policy Be Reformed?
What Would The American Economy Look Like Without Undocumented Workers?
Can International Trade Save American Jobs?
How Much Impact Will Our Faltering Economy Have on Illegal Immigration?
Would Harsher Sentences for Undocumented Criminals Lower Crime?
Will There Ever Be Comprehensive Immigration Reform in America?
Do Undocumented Immigrants Pose a Health Risk for Americans?
How Will the Oil Crisis Impact Foreign Policy?
What is a Fair Path to Citizenship for Undocumented Workers?
Which of the Presidential Candidates Will Bring the Best Immigration Policy Into Office?
Outsourcing, Bad Trade Policy and Recessions
Is America Capable of Breaking Free from Foreign Oil Dependency?
What Does the Globalization of Big Business Mean for America?
Are American Car Makers Ready for the Oil Crisis or Will Japan Reign Supreme Once Again?
Does Dependency on Foreign Oil Endanger America?
What is a "Real" American?
Racial Profiling - Is It Ever OK?
Who Wins When Undocumented Workers Come to America?
NAFTA and the Election
How Can We Curb Illegal Immigration?
Fear Mongering and Illegal Immigration
Border Security and the War on Drugs
Outsourcing or Undocumented Workers: Which Hurts American Workers More?
Sierra Club vs. Border Fence
Who Owns America?
Redefining Immigration
Racism and the Immigration Debate
Free Trade vs. Fair Trade
Migrant Farm Workers and the Cost of Groceries
Archives by Date

A Legal Immigrant’s Perspective

If you are not a Native American, you are an immigrant, so am I. I came legally to this country at the age of five with my parents who worked hard, paid taxes (even Jesus paid taxes), lived by the rules of this great nation and never took or accepted a penny from the government. We came seeking FREEDOM from a communist country. It was months before we were able to enter the US legally. I remember us getting medical exams, shots (small pox), background check, references, and going through numerous interviews once we arrived. I also remembered people coming to the US from all over the world who waited years since it was based on "Quotas". Read more...

Solving Our Immigration Problem

The major problem our country is facing with illegal immigrants today is because of the exploitation of these immigrants. We believe the solution to this problem is two-fold. First, we should allow more immigrants in this country to cut down on the number of illegal ones. Second, all immigrants should be educated about their rights at the expense of the government. Below, you will find an in-depth look at our suggested reforms.

Reforms for immigration limitations:

-New immigrants can't equal more than 1% of the US population in a given year (the population being from the last recorded census). That 1% will be further divided up to allow only a certain number of immigrants each month.
-Each country of origin for immigrants will be allowed a certain percentage of that 1%. No country could receive more than 10% of the total amount and no country can receive less than .1% of it. The left over percentage will be divided up between all countries as follows: Read more...

Do Elements Within the La Raza Movement Pose a Threat to America?

La Raza means literally “The Race” in Spanish. The movement was formed in 1968 to promote the interests of the Mexican-American community. Like the NAACP and other affirmative-action minded organizations, La Raza has many members that are interested in being part of America and promoting equality for all Americans. The fundamental goals as stated by the movement are benign and represent the ideals of American diversity and cultural pride.

There is another movement affiliated with La Raza that has historically been more militant and still maintains documents within their organization that point to isolationistic views Read More

A Plan

The one major thing that seems to be lacking in the immigration debate is a real plan that addresses the legitimate concerns with illegal immigration. There are strong opinions on both sides and a lot of rhetoric but there isn’t really any solid plan being promoted to address the illegal immigration issue in a way that is both fair and logical.

So, that being said here is my idea:Read More

Trucking Cross Borders

This is mainly a concern for the trucking business. If we allow these people to come into our country, bringing cargo that we in America have, and can supply, then we are saying that the American working people are not needed, and have lost all say to legally enforced DOT (Department of Transportation) laws.Read More



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