The UK Daily Telegraph reports that China has expressed concern about recent purchases by the Treasury of US bonds. The story, by Ambrose Evans-Pritchard, reports that the president of the Dallas Federal Reserve Bank, Mr. Richard Fisher, was questioned repeatedly by Chinese officials about the US government's intentions to "'. . .monetise the actions of our legislature'" -- essentially, whether it was going to just print money.
Mr. Fisher is, according to Mr. Evans-Pritchard's article, "running a fervent campaign to alert Americans to the 'very big hole' in unfunded pension and health-care liabilities" to the tune of $99 trillion.
Meanwhile, the taxpayers are going to take over GM (about 69 percent of it, anyway) which is very nearly bankrupt.
When do we get Obama care for everybody? You know that's coming, right? If China doesn't pay for that, you will. . . What utter good sense. The treasury's broke, the lenders are balking, and Obama wants health care "reform" and he's putting the government deeper into the auto business.