Re: Seven Questions for Hillary
by The Tax Doctor
Additional question: What do you propose to do about the continued escalation of interest payments to China, Japan, and Russia? Today, we divert more than $60 million per day of federal revenues to make interest payments on accrued debt to China. Japan’s foreign reserves reached US$996 billion in November, meaning that they must now exceed US$1 trillion. The latest reported reserve position of China is US$1.57 trillion, and Russia’s reserves are close to US$0.5 trillion. What is your position with regard to what Russia and China will do with regard to investing these sovereign wealth funds that we have so generously provided? Do you oppose investment of those funds in banks, financial concerns, and other U.S. corporations? Do you have concerns about their use of these funds to finance activities in Iran?
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