Watch: Romney Wants to Stop Borrowing From China

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Mitt Romney says he would cut all programs that required the U.S. to borrow from China, including PBS -- even though he's a fan of Big Bird.

Romney Wants To Stop Borrowing From China

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dencuddy

But he also wants a war with Iran. Do the math, bush borrowed to lie us into war, Romney will do the same.

October 04 2012 at 6:28 AM Report abuse rate up rate down Reply
Robert

Someone needs to clue Romney in that we don't really borrow from China. We have this entity called the Federal Reserve. When we need to borrow money the FEDs tell the Treasury to print it. We then owe the FEDs.
The FEDs hold 93% of our debt and since the banks own the FEDs I'd say the taxpayers have been ripped off since 1913 when they formed the FED and Congress gave them the right to print money. Talk about the biggest scheme in our nation's history! Someday America will wake up!

October 04 2012 at 5:47 AM Report abuse +1 rate up rate down Reply
2 replies to Robert's comment
romansicj

China, just like everyone else who holds our Treasury Bonds, Bills and Notes, buys from the Primary Dealers, mostly the largest 30 or so financial institutions, mostly US based, who bid at.the regular Treasury Auctions. The holders of our Treasuries.....including China...can buy and sell them in the open market any time they want. Bonds mature in 20 years or more from date of issuance....then they have to be paid back...Notes mature in 10 years or less and Bills are short-term usually 90 days. Paid back to China or anyone else.....so Yes, we do borrow from China.....

October 04 2012 at 7:38 AM Report abuse rate up rate down Reply
scottee

yes, The Fed needs to be audited and ended. I think that's something Romney/Ryan have on their agenda. I hope.

October 04 2012 at 7:47 AM Report abuse rate up rate down Reply
AL1PA

Finally! Some sanity. America can not continue to borrow money from anyone. America needs to cut out a lot of programs like foreign aid, the United Nations, Nafta, to just name a few. Why are we sending money to countrys that take our money and then hate us anyway? The United Ntions is a joke. Another case of America being hated, but we foot the bills. Nafta, even Ross Perot stated about the giant ******* sound as our jobs left America. Just these entitys I mentioned is just the tip of the iceberg.

October 04 2012 at 2:18 AM Report abuse +1 rate up rate down Reply
1 reply to AL1PA's comment
scottee

and Big Bird can support all of PBS. they just don't want to. and why work for the money when the government will give it to you? I bet half the people on welfare feel the same way.

October 04 2012 at 7:49 AM Report abuse rate up rate down Reply