2006
Communist China Still A Threat to US
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Communist China’s $14.5 billion trade surplus during the month of June set a new record for single month. Exporting goods to the West, chiefly to the United States, has ballooned China’s enormous cash reserve, now topping Japan’s as the world’s largest holder of foreign currency. This makes China most able to finance U.S. indebtedness. This is not a good omen.
The Bush administration recently announced that the projected federal deficit for the current fiscal year will be just short of $300 billion, not as large as originally predicted. President Bush claims this as an accomplishment. The sad truth is that the federal government’s indebtedness during the five years of the Bush presidency has grown to $8.3 trillion from $5.6 trillion. Where does the money come from to finance these enormous short falls? One source is more currency produced by the Federal Reserve, the process known as inflation that steals the value of everyone’s dollars. But another way to cover a deficit is to borrow. And one of the chief lenders to our nation in recent years has been Communist China, a country that has never renounced its intention to defeat the United States.
It begins to look as though China will not have to do militarily what it is being positioned to do economically. What are our leaders doing to get America off this suicidal path? The answer is virtually nothing, except more unconstitutional spending.
Meanwhile our national and financial security is in jeopardy because of our relation with the enemy who has threatened our country with missiles. They already have control of both entrances to the Panama Canal and has made alliances with Cuba and socialist Venezuela, the most anti-US country in South America.
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