|
Getting your Trinity Audio player ready...
|
Interesting argument from a former “Bearded Marxist”.
Sen. Chris Coons (D-Del.) on Saturday said default would confirm Chinese President Xi Jinping’s assessment of a broken U.S. political system, as the White House and Congress negotiate over the debt ceiling amid the possibility of default.
“The single worst thing we could do is default. It would confirm Xi Jinping’s assessment that we have a flawed and broken political system, that we can’t solve our most basic challenges, and it would weaken us in the eyes of the rest of the world,” Coons said on MSNBC.
I suppose we could have a Chinese Communist system in which Xi decides how much money to spend and anyone who disagrees gets carved up for spare parts. That’s the direction a bunch of Dems are going with their claim that a clause in the 14th Amendment allows the president (only if he’s a Democrat) to spend as much money as he likes.
But is there a reason we need to worry about proving China wrong about anything? Odd argument to make.
China holds about a trillion dollars worth of our debt. Should we really be going deeper into debt to China to prove that Congress will give in and let Biden get us even deeper into debt?
How about if we have to worry less about what China thinks about us by not getting into debt to the Commies?
Sonds like an offshoot of “Modern Monetary Theory.” Infinite borrowing, infinite spending, and infinite debt, all as we whistle past the graveyard, yes?
I don’t understand “Modern Monetary Theory” but it seems insane to me.
I understood Macroeconomics pretty well in the 1970s.
MMT is simply. Just print money. Since the gov can print as much money as it wants, it can never run out of money because it’s good for it.
And soon the money being printed isn’t worth as much as the toilet paper we need to buy. If that is the way the left wants to go perhaps we should make things easier and just print it on TP.
Democrat politicians seem to be more interested in playing the blame game than averting the default.
“… we have a flawed and broken political system, that we can’t solve our most basic challenges…”
Orrrrr, our political leaders could actually lead. You know, by passing a budget that includes necessary cuts to spending and eliminating huge amounts of waste. Fix the broken border instead of inviting in millions of illegals who drain our resources.
If we want to”Show”The CHI Coms Anything,we should”Show”them how a Resonsible Administration works by Living Within Our Means!!!!!!!!!!!!!!!!!!!!!
So dose China have another Democrat Puppet to Dance for them when they pull his strings?
What a JERK!That’s like saying we have to shoot down a bunch of people to show how Dangerous guns can be???????????????????????
Somewhere a café au lait black man is smiling. So’s his husband, Mike.
Thanks Daniel for pointing out the total destruction of from the bad intentions of the Political pundits, This nation of politicians has been bought off by China. Greed and the obsession with wealth and power rules them, not honesty, or integrity or concern for this nation. The debt and irresponsible spending, is driving a nail in the coffin of the United States