No, the federal government is. Obama does not have 1 trillion dollars a year. In fact, he only makes about $400,000 IIRC.Your right Obama is financing spending through debt at the tune of over 1 trillion a yr.
All joking aside, though, the government has been doing this for quite some time and started many presidents before Obama. It just gained prominence under Bush because of their deficit spending.
It doesn't pay interest to China, it pays interest to all bondholders. I don't see what is wrong with this; maybe you do, but then again you apparently don't know much about how US Treasury Bonds work.and of course it doesn't have to pay down the debt just keep paying interest to China.
I don't see how this is relevant unless you believe that the US economy will never pick up again at which point I would say you are delusional.In boom times, can you tell me when the next boom is going to happen?
There is no such thing as an endless supply of money.Of course not, to a guy that thinks there is an endless supply of money
Again straw man. You people love going off on this unfounded tangent every time this is brought up. I wonder why you can't simply engage what I have said? Hmmm...you would never have to balance the budget, just keep borrowing a trillion plus a yr until eternity. How stupid of me.
Straw man.Ignorance, complete ignorance is on your part, to think we can continue to borrow a trillion a yr for eternity is complete ignorance.
Greece and Spain are completely different scenarios than the United States, and to compare them is to show your complete ignorance of the difference between apples and oranges.To think Greece and Spain who no one will lend money too, and that we could never be in the same spot is complete ignorance.