In China, Obama Meets America's Lender

China Holds $800B in U.S. Debt and Collects $50B a Year in Interest, Leaving the U.S. with Little Political Leverage

(CBS)  As President Obama makes his way through China this, his visit may help to highlight an often-overlooked part of the U.S.-China relationship: China's role in propping up this country's massive debt. When it comes to the nations the U.S. owes money to, China is at the top of the list - and the numbers are staggering, as CBS News correspondent Hari Sreenivasan reports.

When President Obama meets with Chinese President Hu Jintao, there may be less lecturing and more listening because it is hard to talk tough on trade, Taiwan, and Tibet when you're sitting across the table from your biggest lender.

The Chinese own more U.S. government debt than any other nation - about $800 billion worth. And the U.S. pays China $50 billion a year just in interest.

"President Obama is concerned about taking China on on trade, the environment, and a whole host of issues," said University of Maryland economist Peter Morici, "because he's concerned China won't buy our bonds."

China is carefully watching how the Obama administration spends money on bank bailouts, expanding health care, and combating climate change - as any big investor would.

"Today, Beijing is asking the Americans very detailed questions about the health care reform, wanting to know how we spend every nickel they lend," Morici said.

While President Obama campaigned on the idea that China artificially keeps the value of its currency low - which makes Chinese goods cheaper and U.S. goods more expensive - this spring, the Treasury Department backed off issuing a report saying China "has taken steps to enhance exchange rate flexibility."

"What's changed really is China's weight in the world," said Evan Feigenbaum of the Council of Foreign Relations. "The capacity that China can bring to bear for good or for ill around the world is much greater. So the challenge of working with China in a whole variety of areas is much greater."

China's economy also suffered from the global recession and implemented its own stimulus program, which in turn could stimulate America's economy.

"It would offer more new opportunities for American exporters, because Chinese consumers with money in their pocket would be able to buy competitive American products," Feigenbaum said.

The fact is that the U.S. and China are inextricably linked. The challenge is turning common interests into complimentary policies.

[Omni-Present101]

________________

1. Republicans, Prescott Bush & George H.W. Bush have long been the True-Authentic Chinese Connection.

Thank them for opening the Doors, so that the USA would soon be Borrowing Billions and Competing with the Largest Communist-Socialist Country on Planet Earth.


2. Former Republican President Richard Nixon via his Bush Connection, Ushered the Chinese Road To World Dominance, that we see Today.

Making Your Enemy Stronger than You, is the Dumbest Foreign Policy Ever and it was Done Mainly by Republicans, i said [Mainly]

Thanks a Lot.


3. Carter didn't stay in Office long Enough to be of any Consequence on the Chinese Incline.

4. Ronald Reagan and his Staff also, Added and Padded, Chinese Forward Progress.

5. George H. W. Bush Continued Chinese Incline in his 4 years, what he and Prescott Bush had Started long ago.

Thank George and Prescott Bush, A Lot.


6. Democrat President Bill Clinton, when he came along, the Wheels Of Motion had already been set and Running, still, Bill Continued the Chinese Momentum, that was started by his Fore-Running Presidents.

7. President George W. Bush, Gave American Businesses, Big Tax Breaks, Big Financial Incentives, to Leave the American Labor Force, for the Green Pastures and Dirt Cheap Labor of Communist-Socialist China, all at the Expense of American Workers.

8. President Obama is trying to Walk that line of getting China to Increase the True Value of the Chinese Yuan, Become Equal Trading Partner with China, via China Buying more Goods from American Manufacturers and Get us out of these Two Wars, that has really put this Nation, in Major Debt, to Communist-Socialist China.

Think: We have Borrowed 20-Billion Dollars per Month, with Interest, for the Past 8 Years and Counting, to Communist-Socialist China.

No matter what President Obama does to Improve our Nation, if We continue these Two Wars, we're going to go [Bankrupt]


Oh by the way, the Interest is 500 Million Daily.

Go to www.DefeatTheDebt.Com

To Understand how our Borrowing Billions from Communist-Socialist China, has put our Nation in Generational Debt, Compounded with Wall Street, Morgan-Stanley, Bear-Sterns AIG and the Bank Bail Outs.

__________
Fox News, Limbaugh, Beck Hannity, Dobbs, Praeger, Savage and Republican Radio won't tell you, what I told You.


[[ Think !! ]]

____________

KABUL (Reuters) - U.S. President Barack Obama aims to bring the Afghan war to an end before he leaves office, he said on Wednesday.

President Obama Knows, these Wars are Financially-Fiscally Unsustainable.
______________________

[brendett]

Let us hope that President Obama paid China back the money that George W Bush borrow from them!....The 8 billion dollars for the War.

[kevjustice]

The chinese fellow said to Obama:"You know you people all rook arike". (Don't get your panties in an uproar, just a joke, even a bad one).

[hungry1968-17]

by ch2444 November 15, 2009 11:41 PM EST
Somebody unplug the teleprompter please...

Oh my god, now we have Bush II

Bush lead around by the Pinkie, Obama bows like a moron.

What a couple of jokes.






You do realize that the "bow" is a standard Chinese greeting, and not a sign of subservience, don't you?

[daffy64]

No. He didn't know that.

Doesn't get out much.

[cbs20091]

Barack Obama pushes for freedom of expression in China. The Chinese government should come to the United States and push for freedom of expression as well. Lou Dobbs had to resign (CNN) because he was expressing his views. Is that freedom of expression? Tell me Barack Obama, is that freedom of expression (when Lou Dobbs cannot express his point of views)? I am going to be so happy when Barack Obama is removed from office in 2012.

[michaelm07]

Yeah, Obama had to go and while in Asia, check-in with one of his handlers. Another being the Saudi's, among others. He's worthless and Bush was no better.

[bubbadubba]

And when did China become America's lender?
Mostly in the past 8 years.
And who was in control in the past 8 years?
GW Bush and mostly Republicans.
And who was regulating all the companies moving to China and Wall Street deals with China in the past 8 years?
No one.
And how long as the US been in debt?
Almost from day one but it really got going starting the the 50's, got worse during the Cold War, then got huge during Vietnam.
See a surplus is simply what is left over each year after loan payments and that year's budget, it does not mean the US has no debt.
To say the US is bankrupt is technically old news.
One more point, few people know the US prints the money, sells it cheap to the privately owned FED, then the private corporation called The FED loans it back to the US government with interest.
How's that for a sweet deal?
Have a great day folks.

[KipperD]

And Obama is giving us more of the same. Are you defending him? or are you saying because it's Obama it's OK now? Mr. Bush is no longer the President. Let's find a new excuse.

[ObamaHatesAmerica]

Actually, the whole Fed ripoff was hatched by a Democrat administration prior to WWI. Every president has been complicit in the fraud, including Oblowme. Hate inflation? It's a byproduct of YOUR WEALTH being STOLEN by YOUR OWN GOVERNMENT to send to overseas bankers. All of your leaders are part of the theft, and you're not going to do a damn thing about it.

[Lickedy]

I think the Chinese are only trying to pull us down to there level, why not, corruption here is at it's all time high like China now ? All of our jobs are over there, and we're told to go back to school and learn how to flip hamburgs for 8 bucks an hour. Well, if you don't, then you can always hang a homeless sign on your chest and make $200 a day.

[Dgunner]

The chinese enslaven thier children of poor families who can't pay thier taxes. They pick and choose who gets the free ride college based on grade point but mostly on how much that paticular famys' gross income and thier business ranking.A good little communist gets rewarded the no so good get sold enslaved or starved out .We in the U.S fight against tax payers money for abortion and argue free choice.In china they sell thier kids to sex slavers and pedophile perverts who pay to rape and sodomize children and call it global tourism.So instead of killing our babies and babying our killers.Maybe we should follow the path of chinese GDP and put our killers to work in dangerous coal mines and sell the babies and adolesent children to the sex industry .we would save billions on fighting pedophilia and tracking sex offenders because they would all be mining coal. Lest I forget to mention the billions of potential US wealth being stolen by copying our patented inventions and reselling back to walmart no heart monopoly.Maybe if we just set aside our morals of christianity or any religion of the bible take up buddaism or the other asian idolatry religions and buy all chinese and asian goods we might gain more confidence in the lending and borrowing of global assets.This up coming thanks giving remebr the chinese and asian children when you pray over your thanksgiving dinner that you saved so much money buy purchasing the food at wal-mart no heart dept. chain.Tallturtle Sevenstar of the wolf clan of the Great Nation of the Cherokee tribes.

[2012EOD]

In Detroit - This is the state of America, and we wonder why we are in trouble.


KEN ROGULSKI: Why are you here?

WOMAN: To get some money.

ROGULSKI: What kind of money?

WOMAN: Obama money.

ROGULSKI: Where's it coming from?

WOMAN: Obama.

ROGULSKI: And where did Obama get it?

WOMAN: I don't know. His stash. I don't know. I don't know where he got it from but he's giving it to us, to help us. We love him. That's why we voted for him. Obama! Obama!