Strategic Insolvency on Defense | Ted Galen Carpenter | Cato Institute: Commentary

Strategic Insolvency on Defense | Ted Galen Carpenter | Cato Institute: Commentary: "Is the program important enough, Romney asked, to borrow money from China to fund it?"

"No American should want the U.S. government to be in a position where it must defer to Beijing on an important issue merely because it is imprudent to annoy one's banker."

"Unfortunately, Romney does not apply his own standard to a crucial part of the federal budget: military spending. That is not a trivial matter, since military spending makes up some 20 percent of federal spending."