Common sense tells us that spending without limits, high taxation and heavy regulations destroy an economy, yet Mr. Obama has based his administration on just such an economic policy. At the same time, the Federal Reserve continues to print money without oversight other than some appearances before Congress.
China surpassed us as the largest economy last week and it made little in the way of news. While it doesn’t have to be catastrophic, it could be. Along with the distinction of being the largest economy, comes tremendous political power. Intimately tied to the power of the nation and its economy is its national security strength.
Mr. Obama oversaw the first downgrade of our economy by S&P. Other rating services followed. Mr. Obama responded by filing criminal charges against S&P, blaming them for inadequate warnings about the economic crash.
Egan-Jones downraded the U.S. again after QE3. The DOJ went after them too.
The administration has effectively silenced rating services.
The one thing this administration can’t stop, silence or sue is China’s economy. We helped them get where they are by outsourcing our manufacturing sector to China with no small assistance from Barack Obama and his policies.
On Tuesday, the International Monetary Fund announced China is the world’s largest economy, making it official.
The determination was made based on our purchasing power and our output.
Make no mistake, China is dangerous and they are not our friends.
Since 1873 the U.S. has been the largest economy. Our economy has been on a shrinking trajectory for decades – as we shifted from manufacturing to service industries.
This doesn’t have to be devastating. It depends on how this administration handles it.
China should have a larger economy given their population but it also gives them power.
It’s political power we once had and will now have less of. We need to manage this change with consistent, principled American foreign policy backed by a strong national defense and free markets, according to Heritage.
China is only a threat if we are weak.
Our free markets are not very free, burdened by heavy taxation and regulations.
This administration’s handling of national security and free markets puts our economy and our safety under grave threat.
China – and Russia – are building strong standing armies while we are tearing ours down. We now have an army smaller than Turkey’s and have fired some of our best leaders while Mr. Obama fills the Pentagon with idealists.
We appear weak, feckless and ambivalent to the world as our president appears supercilious and detached. He has removed the United States from the world stage. We are no longer feared and barely have a presence. We are seen as a nation in decline and we are.
A year after Mr. Obama won a second term, the national debt hit $17 trillion.
The deficit has gone down to what it was when Barack Obama first assumed office but it will rise again as Obamacare and various taxes and regulations he oversaw are fully implemented. Many were delayed until after Mr. Obama leaves office.
We are at a turning point and national security can’t take a back seat but it will for the next two-and-a-half years. As former defense secretary, Dr. Leon Panetta recently said, I’m afraid for my country.