Tuesday, November 17, 2009

Chinese Healthcare in America

As the New York Times reported Sunday, Chinese officials are questioning American officials about health care reform in the U.S. As the Times wrote, “The Chinese were not particularly interested in the public option or universal health care....They wanted to know, in painstaking detail, how the health care plan would affect the [U.S.] deficit.”

Why would the Chinese be so interested in our deficit? Well, for all intents and purposes, China is the official banker of the United States government. China is the number one foreign holder of U.S. Treasury securities. This has MAJOR implications on our independence and security, as well as our stance on issues of human rights.

The hard questions they are asking right now are about how much the health care bill will raise the deficit. And make no mistake, if the Chinese decide not to continue financing our debt, the dollar could drop through the floor. America could have a huge financial crisis.

Before asking your government whether or not we can afford this new interventionist policy, perhaps it would be wise to ask the Chinese.

We cannot spend our way out of debt. We must conserve resources and invest wisely in the surest turn-around.

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