Who will Obama borrow from to pay for his plans...China?
Obama has planned increased spending. Bushes tax cuts made little to no difference in federal tax thefts. Either way, federal tax income is about 2.5 Trillion, while the federal budget is 3 trillion, while we owe 10 trillion in debt.
Obama or mccain cant raise taxes enough to increase the federal budget by a trillion - nor do we want them to. Obama wont make any meaningful cuts in iraq or Afghanistan. Obama wont cut back the hundreds of billions we throw around the globe to add to our debt, neither will mccain. Obama and McCain will not close a single of the 800+ military bases we needlessly maintain around the globe.
So WHO will Obama borrow from to pay for his plans for bigger government?
And if he shouldn't borrow it from china, should he just print $10,000,000,000,000.00 (10 trillion) to pay off the debt?
Answers & Comments
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I guess the same place Bush has borrow all the money. You wasn't concern when Bush did it. Why because he's white. How is McCain going to pay for it if elected? How come not more of you neo-CONS are upset about the economic meltdown that happen on Bush watch? We do have a war that we spend 10 trillion million each month. For the people who to continue to race bait, whites are scare of black. Someone day. I am so sick of it. It's not about black and white. Who cares. When millions are loosing their homes, jobs and retirement. Most people are thinking about their pocket book. Don't you get tired of hating. We are all Americans. Stop trying to divide us. >><<
Why do you focus exclusively on Obama when by ALL accounts, McCain's additional tax cuts for the wealthy and corporations will put the country into an even bigger deficit than Obama's spending? This is fact. You do realize that additional tax cuts to corporations and the top 1% means LESS revenue to the government right? In the same way spending means LESS revenue for the government?
Don't get me wrong, I don't know how either plans to afford the things they say. But this is a double standard.
And oh yeah, like the US has never lent money from China before..
Well obviously the old way of tax breaks doesn't work, since we had to use 700 billion in tax dollars to bail out the largest casino in the world. So you think it's better to keep giving corporations breaks and free reign to make the executives richer faster at the expense of the people that make under 50k? And then you say he'll borrow money from China. Hello!!! Where do you think your stimulus check came from.
Obama will borrow from the same places McCain would have borrowed from. Who cares? Why needle it to death?
Nobody wants Palin in as president. Bottom line. Obama is highly educated.Very intelligent. McCain is NOT. After 4 years, then how bout we vote McCain in? He will be close to 80, so he should be REALLY experienced.
He won't have to borrow. THAT was the mess GW Bush got us into.
Remember the Clinton years? Same kind of plan as Obama. No deficit. Balanced budget. Gasoline at $1.70 a gallon. No war.
After Clinton, Republican cronies raped the USA with presidential approval. Record profits for oil companies. Record profits for insurance companies. Borrowing BILLIONS from foreign countries. Meanwhile, record numbers of working people are losing their homes.
The Obama plan will restore this country to what it could be and should be.
The Obama supporters understand more than you do...apparently. The Obama plan will save this great country from the damage done by GW Bush and his 90% buddy, John McRage.
You are correct. We cannot raise taxes enough to pay down the deficit. The best way to pay it down is to increase productivity, export more goods, and thus create more tax revenue. Costs must also be decreased, not increased, during a recession. A tax increase on business will only cause more to move out of country and decrease revenue. Those of you who like to "prop up" the Clinton years, don't forget to mention NAFTA, giving China favored nation status, tax increases across the board, some of the largest defense cuts in history, 3 major terrorist attacks, lying under oath. Should I go on?
Ditto: The same place McCain would borrow it from. OK. Smart one. What's your plan to get us out of the hole Bush has put us in? )(
I believe your country is already indebted to China for TRILLIONS of dollars .
If you guys stop supporting Israel and Iraq, Obama will have all the funding he needs to govern your country!
How come you don't mention that McCain's tax plan will actually cost the government more?
China is one of the nations with a large cash reserve and they will benefit if they can get the US economy going again (since we are their customer).
That's a pretty good deal, isn't it? "I will loan you money so you can buy stuff from me."
Never the less, China is not the largest foreign holder of American debt, it is Kuwait. So, there's just as good a chance (or even better) that it will be one of our Middle Eastern "allies" like Kuwait or Dubai who finances our debt in this next go-round.