Im afraid it may have already come that time in which it comes “back and bites the country big time before too long”. With recent monetary printing up, this has hurt the value of the dollar; the bailout money for example, was entirely printed fresh. Along with what you have mentioned, it is not only China *we* are indebted too, but there are many other nations including: Japan, Russia, Saudi Arabia, countries of Europe…to name a few. Pessimism leads to withdrawal, realist understands whats coming.

If your time is not limited, consider my question

Government likes to spend more money than it takes in. Even at the end of Clinton’s presidency, when Clinton and the Republican Congress managed to get a budget surplus, the surplus wasn’t enough to cover the interest earned on the National Debt. A Republican Congress and Republican president didn’t fix the problem; they didn’t even look like they were trying to fix that problem. It seemed to get even worse when Democrats took over Congress. Next, it looks as if we will try a Democrat Congress and president. If that doesn’t work, I bet we try the Republican Congress and Democrat president again, like during most of Clinton’s presidency. I just hope those Republicans work on actually fixing America’s problems instead of looking for excuses to impeach Obama.

well, the way i see it…it won’t be long for that bit get any closer!!! and we all will feel the pain…ouch!! that’s hurt….let go of my backend…

China does not own us , great Liberal talking point though to the ill informed. China owns about 800 Billion of our 10 trillion dollar debt.

No one can accurate say what a tax cut is going to do, it might increase revenue as it does most of the time , its not a zero sum transaction like its treated.

Personally I don’t care about the debt that much because after all , all the money in the world is just printed up out of thin air..