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And how is trip for the First Lady worth the expense?
FLOTUS Michelle Obama is going to the country with the strongest focus on education to sell them on education. And we are paying millions of dollars on this. Is this administration looking for ways to waste the money we borrow from China?
Lare: You did not answer the question but posed excuses. First, she is bringing her kids which add to the expense, second her security team dwarfs those of congressmen and so jumps up the cost significantly, third, how does other govt waste justify this govt waste.
China holds a ton of our debt. Yes, most of our debt is owed to Social Security, but the second biggest holder is China followed by Japan. China is not our friend and could prevent our further borrowing by just dumping all bonds of ours they have on to the open market and then where would we be. We would have to end some of those liberals programs you all love so much. So why is Michelle going to China, to get her and her kids away from her philandering husband?
1 Answer
- lareLv 77 years agoFavorite Answer
be a dear, and look into how many all expense trips your congressperson has taken with public funds. you might be surprised at what little those trips accomplished with your money.
the United States has never borrowed a cent from China, during this administration or any other. the so-called national debt is not made up of loans, period. do you mean to say that China buys US Treasury Bonds? well so do other investors, banks, retirement funds, and federal agencies. The government itself is the largest holder of bonds. They are free to sell those bonds at any time on the open market, but they can't collect from us until they mature. When the Treasury redeems them, they just issue a new bond to cover the cost. Judging how many people buy Treasury bonds is an indication of the general consensus being we do not waste money and are fiscally responsible.
