Who will tell the Chinese that we're never going to pay them back? I Nominate John Boehner.
The U.S. national debt is well over $14,000,000,000,000. U.S. debt held by foreign countries is approaching $5,000,000,000,000. China holds about $1,200,000,000,000 of that debt.
U.S. national debt per taxpayer is over $128,000, and that's on top of about $52,000 of personal debt per citizen.
Do the math. There's no good reason to believe that America's debt problem will ever be solved. But of course that's old news...
The new news is that Republicans still don't care. That's not particularly surprising, but in the wake of the elections in November, it's very disappointing.
The miniscule spending cuts that have been proposed by Mr. Obama and his bosom buddies in the extremely moderate wing of the statist Republican Party don't take us anywhere near the level of spending prior to the ObamaBinge. And as Stacy McCain points out, John Boehner's recent budgetary "victory" was little more than smoke and mirrors.
To mix metaphors, the Democrats are taking us to Hell and the Republicans have furnished the handbasket. Thanks, Agent Orange!
PS: If you agree with me, you're an extremist. Reckless is the new "responsible."
How about this guy for Senate Majority Leader?
Related thread at Memeorandum
UPDATE: RINOs lied, their credibility died.
UPDATE II: NRO: Strike One For John Boehner
UPDATE III: Budget Deal cuts deficit by $1.14 per American