Political Quotes

“The article lays out how increased inflation ultimately undermines our national security. China, perhaps our greatest adversary of the next decade, now owns $1.1 trillion of the national debt. That is the second highest total among foreign sovereign governments, and increased dependence on China is a clear threat to our national security. If the current trends continue, China's portion of our national debt will increase to $1.7 trillion over the next decade. Interest payments as they rise will mean more income for China and will directly fuel China's growth making them a stronger economic and military adversary. Twelve years ago, Joint Chiefs of Staff Chairman Admiral Michael Mullen famously warned: ``The most significant threat to our national security is our debt.'' That was 12 years ago. The most significant threat to our national security is our national debt. At that time, by the way, the Nation's Federal debt was roughly $13.5 trillion. Now it is at $30 trillion and growing. What could be even worse is if our lenders lose faith in the ability of the United States to pay back and make good on those loans. If they essentially lose faith in the credit of the United States, that would be what we call a sovereign debt crisis which would have a major economic impact in the United States affecting every single American. By the way, that is not merely a hypothetical. We have seen major nations face sovereign debt crises.…”