In case you don't believe that America's debt levels are shocking to the world, OUR BANKER, that's CHINA'S CENTRAL BANK, has issued a sky-is-falling warning. They have stated that "China is worried about the safety of its foreign-exchange reserves including those investments in U. S. Treasuries." In other words, China believes the U. S. cannot make good on the almost one trillion dollars we owe them. I believe that's called "default."
What's alarming China? The Congressional Budget Office says the U. S. will record a $1.3 trillion budget deficit for the fiscal year ending September 30. This budget deficit will be equivalent to 9.1% of gross domestic product, making it the second-largest percentage of GDP in 65 years, exceeded only by the 9.9% in 2009. Both budget deficit breaking years have occurred under the Obama administration. And Obama isn't done spending yet!
Want another scary FACT? The CBO projects that the U. S. will have a cumulative deficit of 6.27 TRILLION DOLLARS in the next decade, thanks to the Monstrous Obama Spending Machine. Say goodbye to any hope of financial stability for future generations.
China is the biggest foreign investor in U. S. Government Bonds. If China decides to dump our debt or quit purchasing our bonds we are sunk, and the sound of us being sucked down the Default Drain will be heard worldwide. And it's closer than you think.
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