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Left And Right Politics

…plus the cream in the center.

United States Bankruptcy

Posted by Billy On April - 17 - 2009

The credit crisis and the housing market crash has caused this great country to once again be in need to borrow money from foreign countries to bail out the United States from bankruptcy. It’s to the point that foreign countries own 40% of the US debt that our politicians have given to the citizens of this great nation.

There was a time that the rest of the world would come to us for assistance and aid, now they just come to us for our military aid and to buy more our debt. Over the last five months, our Presidents (Bush and Obama) have passed bills to try to stimulate the economy. It will cost the United States citizens trillions of dollars to pay back the debt that has been added to our already high debt.

China has bought most of the contracts to our debt, which is a treat on our security of this country. What will happen in seven years when we are expected to pay back the Chinese for the money they let us? Will we be able to pay them back or do we just give them the rights to some of our major components of our economy as collateral.

In the last three decades, the United States have been sending many (if not most) of our factory and manufacturing jobs oversea to China. In the process, we’ve lost our edge on being the leader of the industrial age. As we enter the technology age, we’ve already started sending quite a few of those jobs to India. India is also another country that hold a lot of America’s debt. So not only are they advancing their own country’s economy, but they’re also buying our county without us even being aware of it.

Our politicians have been spending way too much money on things they can’t afford. Yes, this country needs to be put back together economically, but they are going about it all wrong. When your family is in a financial bind, do you spend more money to get a hold of the issue or do you spend less to make ends meet?

The United States is in a bad position (between a Barack and a hard place). Our government is spending money that they don’t have, China is a good position to taking over parts of our economy and India is not too far behind them doing the same thing. Add on top of all of it, the fact that we have North Korea shooting long-range missiles and our President isn’t even doing anything about it.

Write your elect official to tell them that they need to secure the safety of this country by not selling our debt to other countries that don’t really care about us. If you’re like me and prefer to talk to them on the phone, then call the U.S. Senate @ 1-202-224-3121

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