Obama: We Must Quit Borrowing from China

[rdgmail]

http://www.bloomberg.com/apps/news?p...Lhg&refer=home

Does anyone think China has already notified the US of its plan to slow purchases of US Debt?

Is Obama trying to warn the US public of an inevitable abandonment of US debt purchase?

From the article:

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

[cjppjc]

Re: Obama: We Must Quit Borrowing from China

http://www.bloomberg.com/apps/news?p...Lhg&refer=home

Does anyone think China has already notified the US of its plan to slow purchases of US Debt?

Is Obama trying to warn the US public of an inevitable abandonment of US debt purchase?

From the article:

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Am I missing something here. The rate of borrowing has soared under this administration. Is he saying we have to find someone else to borrow from?

[rdgmail]

Re: Obama: We Must Quit Borrowing from China

I think he is stating what's obvious to most people here: At some point, China will balk at buying more US debt- at that point interest rates will skyrocket. Perhaps he's laying the groundwork to encourage Americans to buy US "savings bonds." Perhaps he's laying the groundwork for a massive longterm initiative to ween ourselves from foreign oil purchases so that we don't have to borrow so much from China? Whatever his purpose is, this is the first time I've heard him mention it.

[c1ue]

Re: Obama: We Must Quit Borrowing from China

Subtext of Obama message: "Do what we say, not what we do"

[Chomsky]

Re: Obama: We Must Quit Borrowing from China

Could this be the beginning of a process where pensions, now in control of the government, are forced to buy treasuries?

[snakela]

Re: Obama: We Must Quit Borrowing from China

if it wasn't for this phrase "Most of what is driving us into debt is health care, so we have to drive down costs,” I would have thought bloomberg goofed and quoted a speech from the primaries.


He's getting us sheep ready

[BiscayneSunrise]

Re: Obama: We Must Quit Borrowing from China

During his State of the Union Address, the President proposed sweeping new programs and said we can do these things without mortgaging the future of our grandchildren.

Now he says we can't borrow from China (no surprise)

Where does that leave us on how to balance the federal budget?

Easy just listen closely to what the President says and he will tell you: Getting rich just for the sake of getting rich will be disallowed or at least taxed punitively. Also regarding health care, when speaking of the final days of his grandmothers life, he questioned the cost involved.

Hence, 70% top tax rates for the current generation of the investing class for starters. Also, rationing for health care in the end days of life is probable. Means testing of SS also very likely.

[blazespinnaker]

Re: Obama: We Must Quit Borrowing from China

He's saying, first let's stabilize the economy and then lets fix it. Initiating repairs on a plane that's plummeting downwards in free fall, is moronic, no matter how many bloggers think it's a smart idea.

Yeesh.

[The Outback Oracle]

Re: Obama: We Must Quit Borrowing from China

Yeah Blaze...but do you reckon we should be filling up its tanks with high octane on the way down?

[blazespinnaker]

Re: Obama: We Must Quit Borrowing from China

I think he's trying to get while the getting is still possible.

Obama is making all the right moves. The only thing he's not doing, is talking about the future. These statements, however, show that he's starting to do that.

The next thing he needs to start talking about is how government has to give way to free markets, and how free markets can be more efficient than government at certain things.

The more he talks about that, the more I think he'll be a great president. Until he really starts hitting home on that point, he's merely a good president.

[rabot10]

Re: Obama: We Must Quit Borrowing from China

He is doing one of two things.

1 covering his ass, becouse shits about to hit the old fan or

2 Laying the ground work for much greater taxes

jmho
rick

[tastymannatees]

Re: Obama: We Must Quit Borrowing from China

He is doing one of two things.

1 covering his ass, becouse shits about to hit the old fan or

2 Laying the ground work for much greater taxes

jmho
rick

Bingo! Both I think He has to get in front of the issue before it happens to have public statements on record or he looks totally incompetent if he acts like he is completely ignorant of the problem before a major event happens. I think most here imminently sense something wicked this way comes....

[cjppjc]

Re: Obama: We Must Quit Borrowing from China

I think most here imminently sense something wicked this way comes....

All the time.:eek:

[phirang]

Re: Obama: We Must Quit Borrowing from China

I bought TLT after hearing him say this. Never Fade Obama...