Mike Michaud: “we are headed on a collision course. If you look at our budgetary deficit, we have the largest budgetary deficit in our…”

“we are headed on a collision course. If you look at our budgetary deficit, we have the largest budgetary deficit in our history. The debt limit was increased to $9 trillion. We have the largest trade deficit in our history, which continues to rise because of these unfair trade deals. And if Congress does not get a handle on both the budgetary deficit and our trade deficit, we will no longer be the superpower that we are today. When you look at our budgetary deficit, over 45 percent of that is owned by foreigners, China being one of them. If you look at our trade deficit with China, we saw charts earlier where it is skyrocketing. When I hear my colleagues talk about the fact that we are going to put trade assistance funding in there so that we can retrain workers, they don't want trade adjustment assistance. They want their jobs. That is very important for them.”