Bush's trillion dollar tax increase

[Chris]

Bush has borrowed a trillion dollars from China to fund the war in Iraq. This huge increase in the supply of American dollars has made the dollar worth less. This decrease in the value of our money is an invisible tax. Americans are so dumb that they don't even realize this.

 

[Annie]

Bush has borrowed a trillion dollars from China to fund the war in Iraq. This huge increase in the supply of American dollars has made the dollar worth less. This decrease in the value of our money is an invisible tax. Americans are so dumb that they don't even realize this.

Waiting for the link and the rationalization for your conclusion.

 

[rayboyusmc]

Don't know about the link, but as our currency is devalued, that is a form of taxation. It takes away the buying power of the dollars we earn.

 

[Chris]

This is a fairly good overview....

United States public debt - Wikipedia, the free encyclopedia

 

[Annie]

This is a fairly good overview....

United States public debt - Wikipedia, the free encyclopedia

Did you read what you posted?

 

[Chris]

The $1.4 Trillion Question

 

[jreeves]

Bush has borrowed a trillion dollars from China to fund the war in Iraq. This huge increase in the supply of American dollars has made the dollar worth less. This decrease in the value of our money is an invisible tax. Americans are so dumb that they don't even realize this.

Where does your article say anything about funding a war in Iraq? I think you need to re-read the article that's not even close to what it was saying. I would say that social spending plays a larger role in the 1 trillion dollar investment by China than does military spending....Since it is the single largest expenditure by the US government.

 

[Manuel]

Here is a list of the major foreign holders of treasury securities

http://www.treas.gov/tic/mfh.txt

 

[jreeves]

Here is a list of the major foreign holders of treasury securities

http://www.treas.gov/tic/mfh.txt

That's about half of what the article claims...interesting....

 

[Manuel]

That's about half of what the article claims...interesting....

It still sums up to $600 billion, if you include taiwan and hong kong.
We did not use their money to finance the war exclusively - but without the war, we would have needed $500 billion less in the last couple of years.

They also have a lot of other interesting documents there...

U.S. Treasury - Treasury International Capital System - Bank Liabilities to Foreigners

 

[Chris]

Bin Laden said his goal was to bankrupt America. George Bush is helping him accomplish his mission.

MISSION ACCOMPLISHED

 

[Chris]

Where does your article say anything about funding a war in Iraq? I think you need to re-read the article that's not even close to what it was saying. I would say that social spending plays a larger role in the 1 trillion dollar investment by China than does military spending....Since it is the single largest expenditure by the US government.

The deficit of the last eight years was caused by the $700 BILLION DOLLARS we have spent so far in Iraq. It be close to $1 TRILLION DOLLARS before Bush leaves office.

The worst president in American history.

 

[manu1959]

if america goes bk then the rest of the world goes down as well as they are holding the paper.....

 

[Manuel]

if america goes bk then the rest of the world goes down as well as they are holding the paper.....

If america goes bk someone else will takeover...

 

[manu1959]

If america goes bk someone else will takeover...

really like who......

 

[Chris]

if america goes bk then the rest of the world goes down as well as they are holding the paper.....

No, they will just foreclose and own us.

How pathetic is it that the President of the United States has to go to Saudi Arabia to beg for oil.

We desperately need a change of leadership.

 

[manu1959]

No, they will just foreclose and own us.

How pathetic is it that the President of the United States has to go to Saudi Arabia to beg for oil.

We desperately need a change of leadership.

clinton went to saudi to negotiate for oil.......

the won't own us...there is nothing to own......

 

[jreeves]

The deficit of the last eight years was caused by the $700 BILLION DOLLARS we have spent so far in Iraq. It be close to $1 TRILLION DOLLARS before Bush leaves office.

The worst president in American history.

I guess spending 680 billion dollars a year on social programs is cutting the defecit in half huh?

 

[jreeves]

It still sums up to $600 billion, if you include taiwan and hong kong.
We did not use their money to finance the war exclusively - but without the war, we would have needed $500 billion less in the last couple of years.

They also have a lot of other interesting documents there...

U.S. Treasury - Treasury International Capital System - Bank Liabilities to Foreigners

Or 680 billion last year alone for social programs or 17 billion dollars less last year for wasteful earmark legislation.

 

[Manuel]

Or 680 billion last year alone for social programs or 17 billion dollars less last year for wasteful earmark legislation.

Are you refering to social security?