Are you OK with borrowing money from China to finance the Iraq war?

The war on Iraq cost more money than we pull in in taxes so we have to borrow the funds from foreign countries. Over the years since we have been in Iraq more and more foreign countries have looked at our mounting debt and stopped loaning us money. Now only China loans us money. Their growing economy at present is reliant on our consumer dollars. That may change at some point, but for now they need us, so they loan us the money to keep the war going.





This massive debt will either 1) bankrupt us 2) cripple us as a superpower 3) cripple us as an economic power 4) be passed on for our kids to deal with 5) some or all of the above. I think we might pay interest, but odds are we will pass on the principle to our kids.





So I am curious.





Please ID your affiliation: Libertatian/Republican/Independent/Democ... and whether or not you are OK with continuing to borrowing the money from China to finance the war on Iraq knowing we will probably be passing the debt to our kids.

Are you OK with borrowing money from China to finance the Iraq war?
%26lt;Indy Lib%26gt;





In short, no.





This issue seems to go overlooked in the mainstream media. Americans don't realize the trickle-down effect these loans have on American families and our national economy.





Typically, wars are financed by raising taxes. But most of the money funding the Iraq war is funded more on our national debt to other countries. GWB, according to the US Treasury Department has borrowed more money than all 42 presidents COMBINED- just over 1.05 trillion dollars. In fact, our 2007 external debt to other countries was over 12 trillion dollars.





https://www.cia.gov/library/publications...





http://www.cnsnews.com/ViewNation.asp?Pa...





This type of reckless borrowing serves three purposes-





1. It puts a strain on Americans when inflation from imports skyrockets, when jobs are shipped overseas, or when taxes are eventually and suddenly raised to pay the debt.





2. It pulls funding from public services like education and law enforcement (combined yearly budget of only about 21 billion in 2009 vs. 500 billion in 2009 for the Defense Department). When the quality of education goes down and when law enforcement drops, crime goes up and quality of life goes down.





3. It ruins our global credibility, and makes America look unstable to the world.





Why instead we are talking about lapel-pins, i just don't know....
Reply:Independent/Democrat leaning


I am not ok with it.





Apparently people forgot to put the affiliation, but I am aware of the fact that Quinn and Am. Forever are hardcore conservative based on profile peeking. How incredibly odd that the fiscal pennypinchers think it's ok to charge on the Chinese credit card and currently run a deficit. Oh the irony.. it's pitiful.





Come home and watch red dwarf!
Reply:Independent.





No it's not OK. It's terribly irresponsible. It's not only China, but Dubai and others.





It is undermining the financial future and safety of our country.





Bush is talking to these countries about not using our debt for their political gain.
Reply:No, the Iraqis should pay for it themselves. The government of Iraq should be borrowing the money directly from China rather than by proxy via the U.S.
Reply:Sure.
Reply:no.





and you are correct. This war will cripple us.
Reply:Sure
Reply:no...





we should raise taxes to pay for the war.

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