Dinesh D'Souza Quote
Second, America is drowning in debt. While China is the world’s largest creditor nation, America is the world’s largest debtor nation. At $17 trillion, the national debt is now bigger than the annual gross domestic product—in other words, it is bigger than the total sum of goods and services that America produces in a year. Nearly half of this debt has been accumulated during the Obama years, at the average rate of a trillion dollars a year. At this pace, Obama will more than double the deficit in two terms. Since a substantial portion of America’s debt is owed to foreign countries, such as China and the Arab nations, debt produces a transfer of wealth away from America and toward the rest of the world. Today, instead of America owning the world, the world increasingly owns America.
Second, America is drowning in debt. While China is the world’s largest creditor nation, America is the world’s largest debtor nation. At $17 trillion, the national debt is now bigger than the annual gross domestic product—in other words, it is bigger than the total sum of goods and services that America produces in a year. Nearly half of this debt has been accumulated during the Obama years, at the average rate of a trillion dollars a year. At this pace, Obama will more than double the deficit in two terms. Since a substantial portion of America’s debt is owed to foreign countries, such as China and the Arab nations, debt produces a transfer of wealth away from America and toward the rest of the world. Today, instead of America owning the world, the world increasingly owns America.