wish it was that simple....
Bill Clinton, in a
recent ABC interview, on who controls our economy:
Quote:
Now, what Americans need to understand is that that means every single day of the year, our government goes into the market and borrows money from other countries to finance Iraq, Afghanistan, Katrina and our tax cuts. We have never done this before. Never in the history of our republic have we ever financed a conflict, military conflict, by borrowing money from somewhere else....
So what if they just got tired of buying our debt? What if the Japanese got tired of doing it? Japan's economy is beginning to grow again. Suppose they decided they wanted to keep some of their money at home and invest it in Japan, because they're starting to grow?
We depend on Japan, China, the United Kingdom, Saudi Arabia and Korea primarily to basically loan us money every day of the year to cover my tax cut and these conflicts and Katrina.
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regardless of whatever one might think of the former prez, this is an accurate statement.