The National Debt: How Soon Before Uncle Sam Cries 'Uncle'?
When Bob Schieffer of NBC News asked the rhetorical question: "...has going a trillion dollars in hock to one country [China] made us more secure?", he was reminded of Everett Dirksen (Illinois Senator for nearly 20 years) and his famous comment: "...a billion here and a billion there and pretty soon you're talking about real money!". The current account deficit, at the present moment, is over $12 trillion and climbing. About half of that debt is owned by foreign countries, most notably China (about $800 billion) and India (about $300 billion), with the balance owned by Japan, Germany, and others....
Original Article: Forum: News/Activism
Tags: Bob Schieffer, Country China, Current Account Deficit, Everett Dirksen, Foreign Countries, Hock, Illinois Senator, India, Japan Germany, National Debt, Nbc, Nbc News, Present Moment, Real Money, Rhetorical Question, Trillion, Uncle Sam, X22, X27