China intends to increase supervision of America

China wants to increase its supervision of American fiscal policy.

Shocker, huh?

Well, that's what happens when one (in this case, America) is issued a credit card... then one tells one's banker that there's going to be some difficulty in not only paying down the debt... but in simply paying the interest.

It was pretty simple to see coming. And things are only getting worse at the moment.

With unemployment rising to 9.5% today... and the broader measure of "labor underutilization" increasing to 16.5%... we've got problems. But instead of rational budgeting, Obama appears to be Bush on steroids with his approach to deficit spending... and Republicans* have no credibility.

Tim White

* Of course my guy, Ron Paul, is a notable exception! Thankfully many CongressCritters are finally listening to him... a little bit.