Is A Weaker U.S. Part Of Debt Deal? -- IBD Editorial
National Security: With his boss on vacation, Vice President Joe Biden has a very important job to do. He's in China, begging communist officials to please keep buying our bonds. If they do, what's he giving them in return?
Sending Biden to China, pardon the phrase, raises red flags about what we might commit to while he's there. What is Biden, the gaffemeister in chief, authorized to give the Chinese?
Officially, the White House says Biden's in China to sell its leaders on the U.S. debt-ceiling deal that will trim $2.5 trillion from the expected deficits of $10 trillion over the next decade.
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My Comment: The purpose of VP Biden's trip to China is to assure them (and others who are listening) that they have nothing to worry about when it comes to US securities and dollar assets .... and in turn the Chinese will voice their support of American T-Bills. If there is something else involved (i.e. other side deals) .... we will have known about it by now through news leaks from the Chinese side.