With the USA already in a mountain of debt, President Obama this week pledged financial support to bail out Greece. So why is the President borrowing money from China so US taxpayers can pay the Chinese interest in order to give money to Greece who have shown the can’t manage their money any better that President Obama manages ours?
Daniel Hannan, British MP, said on Fox and Friends today (June 9, 2011) that “in five years, the interest the US is paying on money we borrowed from them will fully pay for the Chinese defense budget.” Unbelievable!
From the Gateway Pundit:
Protesters from a communist-backed union protest near the Greek Parliament seen in the background during an anti-austerity protest in Athens, that several thousands people took part in on Friday, June 3, 2011. Greece is poised to receive the next installment of its bailout facility, and will likely get further rescue loans to prevent it from defaulting on its massive debts, European officials said Friday. The banner reads ‘general strike.’ (AP/Petros Giannakouris)
After tripling the US deficit and with unemployment at 9.1% President Obama pledged US financial support to bail out Greece yesterday.
CNBC reported:
President Barack Obama on Tuesday urged European countries and bondholders to prevent a “disastrous” default by Greece and pledged U.S. support to help tackle the country’s debt crisis.