Radio Free USA:
Top fiscal watchdog delivers stinging attack on deficit. A couple of excellent points here. One, “If foreign investors decide that they don’t want to hold U.S. debt anymore, it could be catastrophic.” And two: “ ... even when surpluses were “projected” in the 1990s, there were still long-term deficits forecast.”
With manufacturing jobs moving offshore [and tax benefits helping it along], and now service jobs heading the same way, ‘tax cuts’ aren’t doing much except for the wealthy. Blast from the past: How the Reagan budget deficits became today’s surpluses.
Now you know who to tax, and where cuts would be most useful.
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“If foreign investors decide that they don’t want to hold U.S. debt anymore, it could be catastrophic.”
That means China basically 0wnz0rz the US.
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