“borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium.”
BS. Congress has been living beyond it’s means, not Americans. The balance of American savings accounts has nothing to do with the strength of the dollar.
Actually, he's right.
Most of what Congress spends -- whether it be Social Security, Medicare, that Farm Bill, the silly No Child Left Behind sh!t, etc. -- is spent on ordinary Americans. And the vast majority of these ordinary Americans would be the first to complain if any fiscally responsible candidate for public office suggested cutting this spending even just a little bit.
I Agree....it has to do with our trade deficits and amount of debt in %GDP other nations own. If our dollar was strong 10 yr notes would be yielding 5.*-6.2% which is well above always gov reported domestic "CORE" inflation of being 2-4.5%. But, it shows the strong correlation between our overall standard of living, spending attitudes, savings attitudes, doing without, being able to make it month to month and taking on too much debt as a nation, government, otherwise.
BS. Congress has been living beyond it’s means, not Americans. The balance of American savings accounts has nothing to do with the strength of the dollar.
Pat raises a monumental issue re "American Imperium." The current world order is indeed arranged around an empire of sorts for which the USA is the dominant force. And no President since Hoover has attempted to withdraw this country from its role.
I view it as necessary -- it is basically like the problem of piracy on the open seas: if you want civilization, some powerful world force must be in a continual mode of defeating lawlessness.