The health care debate has revived focus on the nation’s debt as critics of the Democrats’ plan say it will sink the country further into the hole. Meanwhile citizens at town halls have expressed fears of China slowly taking over by continuing to absorb the US debt.
Barrett McCormick, Chairman of Marquette University’s Political Science Department, says the relationship between the two nations is “very ambiguous.” He says militarily China is not an American ally although there has been some collaboration on some issues such as dealing with North Korea.
Economically speaking there is an incentive for continued cooperation among the two parties, according to McCormick. China needs the US to maintain strong currency and to continue importing their goods. The US needs the Asian nation to continue lending money.
The political scientist says China is becoming concerned with the value of the dollar deflating and the American economy not being as productive as it once was.
Meanwhile President Obama recently announced the federal deficit is expected to reach 9 trillion dollars over the next decade, two trillion more than estimated earlier.