Wall Street Journal financial reporter Steve Moore explains that Obama is leading the United States towards a financial train wreck.
A few numbers:
1) The U.S. is paying $1.2 billion each month on interest alone on the debt to China.
2) China is holding $776 billion in U.S. Treasury Securities.
3) The Obama Administration is borrowing $5 billion each day just to keep the US economy afloat.
Obama is placing a crushing debt not just on our children and grandchildren but on our grandchildren’s grandchildren.
And if Obama gets his way and passes a government takeover of the health care and insurance systems, well, this country will be plunged into hyper-inflation.
This spending spree is unsustainable.