Powell/China Express Regrets
Loading ...After breaking ranks with the Republican party to endorse President Barack Obama, Colin Powell has serious regrets that America’s in too deep.
“I’m concerned at the number of programs that are being presented, the bills associated with these programs and the additional government that will be needed to execute them,” the former secretary of state told CNN in an interview on Sunday.
Not surprising since President Obama’s rating has taken a turn for the worst in recent polls regarding the direction the country has taken since Obama/Biden took over Washington.
Powell’s not the only one who feels buyer’s remorse. China who happens to hold a very important stake in America’s recovery is also expressing concern over the excessive spending. Even though China’s government remains largely Communist, China has eased strict trade restrictions and government imposed regulations in recent years allowing business and capitalism to increase. Ironically enough, China is now a major lender to the United States armed with a harsh warning to stop the porkulous spending and focus on repairing the nation’s debt which has reached over 11.5 trillion with a staggering 1.85 trillion under Obama’s 6 months of Admistration alone. Not a warm and fuzzy message from a major investor.
“I think one of the cautions that has to be given to the president-and I’ve talked to some of his people about this-is that you can’t have so many things on the table that you can’t absorb it all. And we CAN’T pay for it all.” Powell said.
He said Obama “has to really start taking a very, very hard look at what the cost of all this is. And how much additional bureaucracy and will it be effective bureaucracy.”
Source: foxnews.com
Wall Street Journal
