Late last year when the president introduced his jobs bill, Republican legislators killed it because they were not interested in increasing taxes or adding to the national debt. Additionally they stood by their long-held belief that the government can’t create jobs.
At the same time we have a group of people who are very concerned about China and their recent ascent to the world’s number 2 economy. Some even believe that China will soon own the U.S.
The irony is that the recent surge in the Chinese economy is in large part thanks to its increased spending on infrastructure projects, which also happens to be one of President Obama’s key components to creating jobs.
It should also be noted that various estimates have China amassing a large national debt (China 89% of GDP – US 93% of GDP) to continue investing in infrastructure projects.
If you really think governments can’t create jobs and increasing the national debt to create jobs will ruin the country, then there is absolutely no reason to fear the current growth of China.
If, on the other hand, you believe China will soon take over the U.S. then it must also be true that the government can create jobs and that adding to the national debt to create those jobs is a smart move.
But why let reality get in the way of some good old jingoistic rhetoric?