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The Heavy Burden of Debt

Debt - an Obstacle to Independence

The Heavy Weight
of Foreign Debt

Posted on April 2,2011

A President who will not lead is as useless as a hairbrush for a bald-headed man. We have a President that got us into a civil war in Libya with no clear direction or goals. With fanfare and rhetoric we began punching the tar-baby and with each blow have ensnared ourselves just a little more.

With a loud oops, we find out that Moammar Gadhafi is not going to roll over and go away. He still has an effective fighting force when matched against the rag-tag bunch trying to overthrow him. But remember, we are not trying to overthrow Gadhafi, only protect the civilians from his forces.

It is plain to see that without further intervention, Gadhafi wins. The big question is will Obama eventually make up his mind one way or the other? But as in all matters with Obama, he will not take a stand. Maybe he will make another speech, but not much else. In most situations, leaders take a stand one way or the other, they either flip or they flop, but in Obama’s case he flips and he flops. Obama wants to play referee with our military, but apparently wants it both ways. We are not there to get rid of Gadhafi, we just want him to be a good boy, – and so Obama hedges his bet. Certainly, he is not in it to win it. That would take a decision and Obama is not up to taking a stand on anything.

Like all half-hearted attempts in any endeavor, they fail. The end game for Libya will be decided when somebody finally makes the decision to either depose Gadhafi or else get the Hell out. Nothing good can come out of a divided Libya. The U.N. tried it with North and South Korea, and North and South Viet Nam. Viet Nam blew up and restored peace only after one side prevailed. Our costs were enormous as we tried in vain to maintain the status quo. We lost 50,000 Americans in a losing effort because victory was not the goal. When you are in a fight with a determined enemy, you better win it or you will suffer the consequences.

The United States has no real stakes in Libya, but Europe does. Europe depends upon Libyan oil. Europe was a major developer of Libya’s oil fields, refineries, and export facilities. The big thorn for Europe is that Gadhafi has declared that he wants the West out of Libya and favors China and Russia to take over those assets. If that happens, it would be a devastating blow to Europe, especially the French.

Decisions, decisions, -- wring your hands Obama. China and Russia only agreed to a humanitarian mission and even then, both abstained from the U.N. vote. That watered down agreement left Obama in a box. If he pursues the war in Libya, he risks upsetting the Chinese and we can’t do that, they own too much of our debt. If the Chinese decided to start dumping dollars, it would be calamitous to all Americans. That leaves this naive President dancing that dance that only a debtor can do when they need favors from the lender. But on the other hand, Europe is our Ally; do we kick our friends in the face?

Obama's next big move is to conduct our efforts covertly to avoid a confrontation with the Chinese. Not only foreign policy, but our sovereignty as a nation becomes a victim of indebtedness. We have only created a new dilemma by not leading from the beginning. Don't get me wrong, I, like most Americans depend upon the leadership from the Whitehouse, especially in the area of foreign policy. It is the President who has the intelligence briefings and is supposed to make decisions in our best interest. That includes not getting the country into so much debt that we can't have an effective foreign policy. A case for or against supporting the Libyan rebels could have been made - but all we got was pablum and misdirection from this Whitehouse. Because of the waffling by Obama, there is a real chance that Gadhafi will remain in power. Blood is still being spilled in Libya, and looks like there will be a lot more before this is over. Being spineless is always good for your reputation and demonstrates leadership – right?

My gut tells me that if we cannot afford to stand up to the Chinese and uphold whatever principles we have left, then we need to fold the tent up in Libya, start cutting back on our reckless spending and start paying off our debt to those foreign countries that we are so beholding to. There can be no sovereignty without independence from indebtedness. Debt, as anybody who owes can attest, steals your independence. Failure to pay the Mafia can result in broken legs or even death. But in the real world that most of us live, payment failure, can get your pay garnished, nasty phone calls, scary letters, and bad credit. The point is, that debt matters, no matter what scale you put it on.

And so Mr. President, what will you do? The choices are clear; you can either get us deeper into the weeds or be up front with us and lead. If you lead, the American people will follow.



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