US Debt – The biggest problem we face that's not a problem
There is a joke making the rounds in the business and economic worlds that goes like this: If the US government can fire CEO’s of companies who took bailout money then China should be able to fire President Obama.
The punch line comes of course from the fact that China has loaned a huge amount of money to the United States over the past 10 years. In fact, they apparently have so much of our debt that people have begun to talk about how China should have a say in how the US is run.
So, with all of this concern over our debt, I felt like it was time to do a little post dispelling a few common assumptions about our debt. The first is who is the main holder of US debt.
The Federalist system in place in the United States has worked well for the past 230 years. However, in the age of globalization, instant communications and supra national organizations, the Federal government must be granted far more power then the state governments.
I had an interesting conversation via Twitter yesterday with 
My beloved Senator, Ted Kennedy, made a surprise visit to Obama’s summit on health care. Kennedy has spent the last few months at his home on Cape Cod (CC Represent!) after he was diagnosed with brain cancer last Spring. He wasn’t even well enough to make it to DC for the incredibly close and vital vote on the stimulus package.