Do you think that Bush was irresponsible to pay for the War in Iraq with money borrowed from China?

Question

We now owe the Chinese several trillion Dollars. Eventually taxes will have to be raised to pay back this enormous deficit. Then another Administration will be blamed for raising taxes when Bush needs to pay as he spends.

He has spent all his political capital and then some.

He has spent all of our economy and then some.

Answer 1

Are you asking a question or making a statement?

Answer 2

Obviously his personal funds would not have been enough.Nor probably the country's treasury.However the bill had to be paid.So he had no alternative but to borrow.Now,the problem is how the heck is the

repayment to be made.The smart man that he is,he knows the next incumbent (has to be a democrat) will

find the going tough and would not be able to reduce the deficit substantially.So the nation would move back to wanting a republican government.Slick move that,

don't you agree?

Answer 3

The main problem is that the chinese now have several trillion dollars. If they ever decide to throw a couple of hundreds of billions of dollars back into the economy, the dollar's value will free-fall. Severely.

Answer 4

Trillions ?

Where did you get that false number from ?

China holds 503 billion is US debt.

That's up from 250 billion China held in Janurary 2001.

China isn't even the largest foreign holder of US debt.

Japan is, and has been for more than 40 years.