What: "Once the most self-sufficient republic in history, which produced 96 percent of all it consumed, the U.S.A. is almost as dependent on foreign nations today for manufactured goods, and the loans to pay for them, as we were in the early years of the republic. What the British were to us then, China is today. Beijing holds the mortgage and grows impatient as we endlessly borrow on equity and refuse to begin paying it down. The possibility exists of an eventual run on the dollar or even a U.S. debt default."

Writer: Patrick J. Buchanan

LCC: J

Where:

Date: Jan 4 2010 3:25 PM