I’m getting tired of hearing the rhetoric from the Left that we have to do 8 years of cocaine…I mean Barack Obama (same diff) to erase 8 years of Bush.
Let’s throw down some raw numbers (computed by Wolfram Mathematica).
United States annual federal surplus = -$1.417 trillion per year (US dollars per year) (2008)
China government debt/United States government debt = 0.06 (6%)
China trade with U.S. = $368.2 billion per year (US dollars per year) (2008 estimate)
United States trade with China = -$706.1 billion per year (US dollars per year) (2008 estimate)
China current trade account balance/United States current trade account balance = -0.5215 (2008 estimate)
China current government surplus/United States current government surplus = -0.03978 (2008 estimate)
The Left had a slight majority during the last two of Bush’s second term. Now they have a super majority. Even with their entirely likely claim of needing another four years to get back to zero, in my book they are down by three now and deserve to be thrown out on their butts in 2010 if they don’t pull us out of this nose dive by four.
And if the GOP miraculously gains a significant enough majority, they’d better have learned their lessons well and make drastic changes in the positive cash flow direction. Otherwise, this can only end in tears and tyranny.
- Garrett Johnson: We have been warned (huffingtonpost.com)
- 2009 federal deficit surges to $1.42 trillion (seattletimes.nwsource.com)
- Why Obama faces a brush off from China (telegraph.co.uk)
- November Trade Deficit Increases to $36.4 Billion (abcnews.go.com)
- Galbraith: Double-Digit Joblessness Goes On While Obama Economic Team Fiddles (crooksandliars.com)
- Change or more of the same? (blogs.cfr.org)
- Do Deficits Matter? Posner (becker-posner-blog.com)
- Deficits Matter (andrewsullivan.theatlantic.com)