Chinese President Hu Jintao Lectures President Obama on Debt to China
Saturday Night Live made a very funny skit in which Chinese President Hu Jintao calls President Barack Obama to task about his overspending at a time when the United States owes China $800 billion dollars.
Jintao refers to spending the money loaned on cash for clunkers, expanding health care coverage, Wall Street bailouts, and the economic stimulus, which Obama admits in this video clip the stimulus has created no new jobs.
In a way, it’s a good thing we owe China so much money. We kind of need someone to remind us about our ever growing debt once in a while who cares about being paid back, with interest.
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