How Much Longer Will America Be Able to Ride to the Rescue?
By KT McFarland
- FOXNews.com
What happens to the Haitis of the world when disaster strikes a decade or so from now?
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Haiti has just been devastated by a massive 7.0 earthquake. This morning President Obama expressed his deep condolences and "unwavering support" for the people of Haiti and promised a "swift and coordinated effort.
So what’s next? Once again, America will rush in -- with food aid, with temporary shelters, with emergency services. The American military may even will “invade” temporarily -- with rescue and recovery efforts, water purification facilities, infrastructure rebuilding equipment.
America’s rush to come to the aid of the world’s most disadvantaged nations once disaster strikes is so routine it’s taken for granted -- whether it’s a tsunami in Thailand or an earthquake in Ecuador.
Why?
Because we’re rich? Sure.
Because we’re generous? Sure.
Because we’re the most powerful country in the world? Sure.
But fast forward now to 2020 or so:
- Of every dollar that the American government spends, 50 cents is borrowed.
- The #1 item in the U.S. budget isn't military spending, or health care or social security -- it's debt servicing.
- Every man, woman and child in America owes over $50,000 in government debt – before taking into account their personal debt obligations.
- The largest single holders of American debt will be the Chinese government and the sovereign wealth funds of the Arab oil producing countries.
So what happens to the Haitis of the world when disaster strikes a decade or so from now? One this is for sure -- the first call they make won’t be to the White House.
