Inviting War Against America

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To get the money to win World War II, America ran unprecedented deficits and drove up the national debt to unprecedented levels. In 1943 alone, the federal government borrowed $54.5 billion, which was more than it had borrowed in all of its previous history before the war, combined. By 1946, Gross Federal Debt peaked at 122% of GDP, and net national debt held by the public peaked at 109% of GDP. But according to the CBO, under President Obama's budget, Gross Federal Debt will already be at 122% of GDP by 2020, without any world war.

So if we find ourselves in another major war, would the bond markets allow us to do what we did during World War II, on top of what President Obama and Congressional Democrats are already doing with budget deficits and the national debt? In particular, would the Communist Chinese really lend us the money to fight the war by buying the bonds necessary to fund it? Would whoever we are fighting sit by with equanimity and just watch them provide us with the money? Or would they more likely ally with the Communist Chinese to cut us off? And what if we are at war with the Communist Chinese themselves, and their allies, which could include Iran and North Korea, if not Russia?

But President Obama is not really so hopelessly naïve as to believe that this will work either. He is actually using the Iranian threat to pursue what he really wants, which is the nuclear disarmament of America.

That is the only way to make sense of his policies...

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