Bush to Sell Canada
Friday, March 17, 2006
(SNN Washington) This week, due to mounting pressure to alleviate the deficit, President George Bush announced that he would be selling Canada to the Chinese. While the plan has met with some objection, it would go a long way towards reducing the deficit.
Economic indicators show that Canada’s current net worth is currently $4.5 trillion dollars, or $137,000 a head. This comes as the national debt United States has begun to nose towards $9 trillion dollars. The national net worth is the total of the net worth of people, corporations and governments, including land.
Cutting the nation debt in half would be a boon to deficit hawks. In FY05, the U.S. Government spent $352 billion on interest alone, the bulk of the budget of the department of the treasury. Also, in FY05, the federal deficit was $413 billion. Cutting the interest payment in half would go a long way towards solving America’s money problems.
In addition, the deal would invigorate U.S. businesses. For instance, over 80% of the suppliers for the retailer Wal-Mart are based in China. With Canadian workers forced to work for these Chinese suppliers in Canadian factories, Wal-Mart would be able to get goods into it’s stores much more quickly. Also, the Chinese suppliers would fall under the terms of the NAFTA treaty.
But some liberal organizations have argued that Canada does not belong to President Bush and they might not want to belong to China, so he should not be promising away a foreign country. This shows an utter disregard of fiscal responsibility on their part. As far as Canada goes, this would be a great opportunity for their country to solidify a better relationship with the United States.
While White House Spokesman Scott McClellan would neither confirm nor deny plans to sell Canada, when asked he did say, “They are socialists anyway, so why should they care?”
