{"id":1929133,"date":"2023-05-11T20:43:11","date_gmt":"2023-05-12T00:43:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terence-p-jeffrey-when-biden-thanked-communist-china-for-helping-to-fund-the-us-government\/"},"modified":"2023-05-11T20:45:58","modified_gmt":"2023-05-12T00:45:58","slug":"terence-p-jeffrey-when-biden-thanked-communist-china-for-helping-to-fund-the-us-government","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terence-p-jeffrey-when-biden-thanked-communist-china-for-helping-to-fund-the-us-government\/","title":{"rendered":"Biden thanked China for funding US government &#8211; Terence P. Jeffrey."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fterence-p-jeffrey-when-biden-thanked-communist-china-for-helping-to-fund-the-us-government%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1929133&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>How China Helped Fund America&#8217;s Massive Deficits<\/h2>\n<h3>Obama&#8217;s First Term<\/h3>\n<p>During President Barack Obama&#8217;s first term, there was a massive spike in the annual deficits run by the federal government. In fiscal 2008, which ended a little more than a month before Obama was elected, the annual federal deficit was $458.55 billion, according to the White House Office of Management and Budget. In fiscal 2009, the year Obama was inaugurated, it spiked to $1.4 trillion.<\/p>\n<p>Yet, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terence-p-jeffrey-when-biden-thanked-communist-china-for-helping-to-fund-the-us-government\/\" title=\"Biden thanked China for funding US government - Terence P. Jeffrey.\">trillion-dollar deficits persisted<\/a> for three more fiscal years. As our government was running these <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gil-gutknecht-wasting-away-in-spendingville\/\" title=\"Gil Gutknecht: Wasting Away in Spendingville\">massive deficits<\/a>, the People&#8217;s Republic of China was significantly increasing its ownership of U.S. Treasury securities.<\/p>\n<h3>China&#8217;s Increasing Ownership of U.S. Treasury Securities<\/h3>\n<p>In January 2009, according to the Treasury, China owned $744.2 billion in U.S. Treasury securities. By January 2013, it owned $1.2142 trillion. That was an increase of $470 billion \u2014 or 63%.<\/p>\n<p>Since the day that Vice President Joe Biden thanked the PRC for helping fund the U.S. government by buying our debt, what has happened on America&#8217;s fiscal front? In each of the last three years, the annual federal deficit has far exceeded $1 trillion. In fiscal 2020, the pandemic year, it hit $3.132 trillion. In fiscal 2021, it was $2.775 trillion. And in fiscal 2022, it was $1.375 trillion.<\/p>\n<p>Meanwhile, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terrence-p-jeffrey-bidens-budget-lies\/\" title=\"Terrence P. Jeffrey: Biden\u2019s Budget Lies\">federal debt held<\/a> by the public has increased to $24.627 trillion \u2014 and China has begun divesting from it. In April 2022, according to U.S. Treasury Department data, China&#8217;s holdings of U.S. Treasury securities dropped below a trillion to $976 billion. In each of the last seven months on record \u2014 August 2022 to February 2023 \u2014 China&#8217;s holdings of U.S. Treasury securities have declined. In February, they dropped to $848.8 billion.<\/p>\n<h3>Conclusion<\/h3>\n<p>Americans apparently can no longer rely on Communist China to help fund the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nonpartisan-economists-say-bidens-infrastructure-plan-will-decrease-economic-growth\/\" title=\"Nonpartisan Economists Say Biden\u2019s Infrastructure Plan Will Decrease Economic Growth\">deficit spending<\/a> of our federal government. It&#8217;s time for our leaders to take responsibility and address the issue of our massive deficits and debt.<\/p>\n<p>Photo credit: moerschy at Pixabay<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During President Barack Obama&#8217;s first term, there was a massive spike in the annual deficits run by the federal government. In fiscal 2008, which ended a little more than a month before Obama was elected, the annual federal deficit was $458.55 billion, according to the White House Office of Management and Budget. In fiscal 2009<\/p>\n","protected":false},"author":1,"featured_media":1929134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[3620,4501,6513,5045,6927,3618,13446,26512],"class_list":["post-1929133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-biden","tag-china","tag-funding","tag-government","tag-jeffrey","tag-riot","tag-terence","tag-thanked"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1929133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1929133"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1929133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1929134"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1929133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1929133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1929133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}