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Politics : Moderate Forum

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To: Dale Baker who wrote (12870)	10/6/2004 2:00:11 PM
From: upanddown	Read Replies (1) of 20773

This idea that this country is omnipotent and answers to no one is one of the more enduring fantasies of the loony rightwing. It ignores the fact that we are the biggest creditor nation in the world by far. Foreigners hold in excess of 2 trillion in US Treasury and agency debt, about 40% of outstanding debt. We are utterly dependent on others to CONTINUE TO BE WILLING to finance our profligacy. The total fiscal irresponsibility of this administration can't be giving those foreign holders much comfort. The only possible way to understand all this arrogance and hubris is maybe the old joke... If you owe the bank a thousand, they own you. If you owe the bank a billion, you own them.

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