Our Massive Debt Is a Threat to National Security—or, How the End May Come

BigPeace.com ^ | 09/14/2010 | Chuck DeVore

[Painesright]

“Endless money forms the sinews of war.” – Marcus Tullius Cicero – 44 B.C.

I’m normally not given to pessimism about America—we are a strong people in a rich land—but our political class has set the foundation for disaster. The Federal debt stands at $13.4 trillion with another $110 trillion in unfunded Medicare and Social Security liabilities.

The People’s Republic of China now holds about $850 billion in U.S. Treasury bonds, most of it quietly moved over the past few months into notes maturing in less than a year.

The ability of a nation to borrow and to finance its debt and other obligations, such a maintaining its defenses or fighting a war, is as much based on trust—the expectation that one will be paid back—as it is based on economic prowess.

What might the end of history’s greatest democratic republic look like?

At some point in the near future, a rapidly rising China may decide to challenge American supremacy in the Pacific. The flashpoint may be over Taiwan, or it may be over the reputedly vast oil and gas riches in the disputed South China Sea area—what matters is not the trigger, but the result.

Within minutes of a Sino-American confrontation, world markets believe that China will begin selling their almost one-trillion dollars in U.S. treasury bonds. This starts a global sell-off that ripples through the entire American bond market as fears about inflation feed on investors.

Within days...

[Painesright]

"Sooner or later in life, we all sit down to a banquet of consequences." - Robert Louis Stevenson

[I am Richard Brandon]

How much does George Soros stand to profit from the destruction of the $ and the USA? I have to think he is too greedy to let this crisis go to waste. Follow the money.

[I Buried My Guns]

I read recently that the United States owes more debt than there is money on the planet earth.

[Ruy Dias de Bivar]

***The Federal debt stands at $13.4 trillion with another $110 trillion in unfunded Medicare and Social Security liabilities. *****

I watched an old Mexican movie last night in which the government borrowed millions from foreign banks at high interest rates and could not pay it back, leading to the invasion by the French.

I see China coming for payback!

[Riodacat]

I’m normally not given to pessimism about America—we are a strong people in a rich land

We are, for the most part, a relatively weak people, spoiled rotten by excessive spending, overweight and obese, unwilling to work hard and in debt.
As for "rich nation", - it's hard to ascribe that term when our public debt threatens our national security. As well, we are a nation divied six ways to Sunday. Left vs Right, rich vs poor, Black vs White vs Latino, Religious vs non-religious, etc, etc.
A Nation thus divided and deep in debt will not stand..