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US Loan Interest to China Enough to Pay For Their Military

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LEANING RIGHT-It was supposed be a weekend getaway to Florida for President Barack Obama and his wife and daughters, an escape from the frigid weather and lingering piles of snow around Washington. But Putin’s intervention in Ukraine has put Obama's plans in doubt, making it very likely the family will end up at the White House.

''It is possible the president may return to the White House as events unfold in Ukraine,'' said White House spokesman Josh Earnest.

This vacation would come on the heels of the holiday Obama spent at the Sunnylands estate in Southern California during Presidents Day weekend last month, where he teed off on the desert property's 9-hole golf course as well as on a private, 19-hole course owned by supporter Larry Ellison, co-founder of the Oracle software company and one of the richest men in America. 

Obama has served as a community organizer. Putin has been president for 12 years and before that was head of the KGB. Who are you going to put your money on? 

Last month the USDA released the latest food stamps numbers and there was some hope for declines. Sadly, the latest numbers refute this, In March a total of 46,405,204 people were at or below the poverty level and thus eligible for food stamps. 

In November 2012 the U.S. Census Bureau said more than 16% of the population lived in poverty including 20% of American children, up from 14.3% (43.6 million) in 2009 and its highest level since 1993 

California has a poverty rate of 23.5%, the highest of any state in the country. 

Patriots of America pointed out in January 2014 that 92 million Americans are now unemployed.

In 2009 the number of people who were in poverty was approaching 1960 levels that led to the national War on Poverty. In 2011 extreme poverty in the United States, meaning households living on less than $2 per day before government benefits, was double 1996 levels at 1.5 million households, including 2.8 million children. 

Another real absurdity is the fact that 93% of the Black population voted for Obama on two elections.  What did Blacks get – nothing.

Black Entertainment Television founder Bob Johnson, speaking at The National Press Club, said the nation "would never tolerate white unemployment at 14 and 15 percent." Black unemployment has been double that of white Americans for more than 50 years. The black youth unemployment rate is more than 40 percent nationally. In some cities, unemployment for black working-age males is more than 50 percent. Let's look at this, but first let's look at some history. 

From 1900 to 1954, blacks were more active than whites in the labor market. Until about 1960, black male labor force participation in every age group was equal to or greater than that of whites. During that period, black teen unemployment was roughly equal to or less than white teen unemployment. As early as 1900, the duration of black unemployment was 15 percent shorter than that of whites; today it's about 30 percent longer. To do something about today's employment picture requires abandonment of sacred cows and honesty.

 Obama should be called to task by Blacks.

The above data has doubled in its austerity since 2008.

Closer to home we recently learned that California will not get the Tesla plant employing 6,500. Cost and politics are the two biggest reasons Telsa is looking elsewhere. 

When Telsa’s ‘gigafactory’ opens in about three years it will manufacture more lithium-ion batteries than the entire industry produces now, The city of Downy here in Southern California was a candidate for the plant location.  

Also closer to home we just learned that of 25 large scale movies recently made only 2 were made in Hollywood. 

We haven’t even considered our failure to develop our oil resources which are more than the rest of the world. 

Finally in a few years our payment on just the interest of our debt to China will support their military. Their military, by the way is expanding while ours is contracting. 

At an average interest rate of 2.130%, Uncle Sam will shuffle $340 billion out the door just in interest payments this year… and it’s a number that’s only going up. To put it in context, China owns so much US debt that the INTEREST INCOME alone they receive from the Treasury Department is nearly enough to fund their entire military budget. 

Where is ex-President George Bush when you need someone to blame.

 

(Kay Martin is an author and a CityWatch contributor. His new book, Along for the Ride, is now available. He can be reached at [email protected] )

-cw

 

 

 

CityWatch

Vol 12 Issue 21

Pub: Mar 11, 2014

 

 

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