China gave Pres. Obama a shot across the bow when, on March 14 it was reported that the Chinese Prime Minister, speaking ahead of a meeting of finance ministers and bankers in London in preparation for next month’s G-20 summit, said that he was “worried” about China’s holdings of US Treasury bonds. Mr. Wen’s exact words were “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our Assets.“ In other words, Mr. Obama, don’t mess with the value of the dollar and don’t do things to debase the US currency, like printing tons of money and running up huge deficits.
I prepared this from Congress’ Office of Management and Budget data dated January 2009, so it is already out of date. The Congress likes to play “funny numbers”, so their “official” deficit projections are lower, because they subtract the surpluses growing in the Social Security fund (which they will spend) and the “net cash flow” of the Postal Service. Yep, you read that right! The Congress is running the Post Office as a cash cow, even though they officially say it is not an arm of the US Government. So now you know why there is a push to increase the Postal Rate!
I also need to point out that this is the "growth" of the deficit, currently at $5.4 Trillion. The deficit will increase by about 233% by 2019!
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