Manipulating currency—Democrat-Socialists in Congress last month pushed through legislation seemingly to punish China the largest holder of U.S. Debt at $846.7 Billion Dollars in July, followed by Japan $821 Billion, United Kingdom $374.3 Billion and Oil Exporters $223.8 Billion which includes Venezuela, Iran, Saudi Arabia and Libya according to the Federal Reserve Board
Ohio Democrat Congressmen Tim Ryan and John Boccieri arguing for passage of H.R. 2378 Currency Reform for Fair Trade Act said that “Congress must act to ensure fair treatment of American workers and manufactures…to address the illegal trade policies that provide unfair advantage to countries like China…”
“China has emerged as the ultra-villains of Campaign 2010, narrowly beating out undocumented immigrants and bankers as the scapegoats for everything that threaten the American middle class,” in a Detroit Free Press editorial today entitled—The Politics of Bashing China Often Misses Mark on Competition
The Obama Administration and Congress are responsible for undermining the U.S. Dollar–Obama’s moratorium on oil and gas exploration has cost 23,000 jobs taking that oil out of the crude pipeline has resulted in more than a $2.7 Billion Dollar loss in economic activity further weakening an already fragile economy.
Together with Obama’s planned 2011 federal tax hikes the Democrat-Socialists Majority in Congress, have been willing to walk off the cliff, chasing after their liberal ideology which has failed to create the grand utopia promised in 2008
Forfeiting Capitalism and Free Market Principles has been disastrous. What a fine mess Obama and Congressional Democrat-Socialists have got us into.