September 28, 2005

China.. Piggy bank or Trojan horse?

Given our curren deficit, and with the current devastation in the Gulf, (no, not that Gulf, our Gulf. OK, that Gulf too.) what's plainly obvious is that we are borrowing from China to rebuild this country, Thomas Friedman was hinting at this on Sunday on the political shows: The bill (hurricane relief, Iraq appropriations, whatever) "should be called the 'How Much Are We Going to Borrow from China Bill'"

What's interesting about this administration is that they, for all their ferocious sense of independence, are not at all concerned that they are taking out a second mortgage on the country. Could it be the red states that should have taken the card away when they had chance to in the 04 elections? Maybe. The point I'm making is that it's not going to be pretty when they'll want to call the debt and our children will have to pay up. Thanks a lot.