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Coronavirus and the National Debt (National radio commentary, Salem/Townhall) February 20, 2020

Posted by daviddavenport in Op/Eds.
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What do coronavirus and the national debt have in common?  The answer is China.  Due in part to secrecy and poor management in China, suddenly the world confronts a major pandemic.  We’re reminded how interconnected our world is and how vulnerable we are to China.

Perhaps this is a reason to take the national debt more seriously.  China owns approximately 5 percent of our debt and some surprise there could have a major economic effect on the US.  It could be the next housing bubble and we are woefully unprepared.

A recent report by the Congressional Budget Office says our debt will equal 98% of the nation’s total economic output by 2030.  President Trump promised to eliminate the deficit in 8 years but what we’ve seen is a nearly 50 percent increase.

Let’s tell Washington to take the debt seriously and beware a bad surprise.

To listen to the audio:

David Davenport: Coronavirus and the National Debt

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