The Debt Is Not a Measure of Generational Burdens...

[AdHocSolver]

7. Big Fail. The debt that is crushing America is the debt owed China.

In other words, the problem isn't government deficits, but the expanding trade deficits.

If we manufactured goods in the U.S. that we now import in massive amounts from China and other low-wage countries, then government deficits wouldn't be a problem, since income tax revenue from working Americans would pay off the debt at some future time.

The only statement that is accurate in the article is:

"O.K. folks, today we are going to learn why the national debt tells us nothing about the burdens or benefits that we are bequeathing to future generations."

The rest of the article is gibberish.