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Reply #25: Dick Cheney said: [View All]

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Mike03 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-12-06 07:07 PM
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25. Dick Cheney said:
"Ronald Reagan taught us that deficits don't matter" two years ago. But the fact of the matter is that deficits do matter and they ARE mattering. The plunge in value of the US dollar is attributable to our trade imbalances. And the plain fact of the matter is that China could crush us under their thumb any moment they like, by allowing their currency to revalue upwards while dumping their record-level holdings of US treasuries and equities. Apparently the best kept secret in the world (or worst kept, if you live OUTSIDE the United States) is that our nation is bankrupt and dependent upon the kindness of strangers who buy our essentially worthless paper.
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