Clinton: US Deficit A National Security Risk

27 Feb

US Secretary of State Hillary Clinton says that “outrageous” advice from former Federal Reserve Chairman Alan Greenspan helped create record U.S. budget deficits that put national security at risk:

“We have to address this deficit and the debt of the United States as a matter of national security not only as a matter of economics,” Clinton said. “I do not like to be in a position where the United States is a debtor nation to the extent that we are.”

Having to rely on foreign creditors hit “our ability to protect our security, to manage difficult problems and to show the leadership that we deserve,” she said.

The moment of reckoning cannot be put off forever,” she said. “I really honestly wish I could turn the clock back.”

Barnaby Joyce has been pilloried mercilessly for daring to voice concerns about the USA and its massive debts. Even though many acclaimed international economists agree with his concerns.

In light of Secretary of State Clinton’s testimony, will Rudd Labor and the Australian mainstream media now apologise for their smears, abuse, and ridicule of Senator Joyce?

More importantly, will Lindsay Tanner, Wayne Swan, Ken Henry, Glenn Stevens, and the media now pause to properly consider Barnaby’s prescient warnings about an impending Day of Reckoning for Australia?

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