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06-01-2010, 03:06 PM #1
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Yikes! China paying U.S. unemployment checks
Yikes! China paying U.S. unemployment checks
Communist nation gets American jobs, loans, consumer market
Posted: May 31, 2010
9:02 pm Eastern
© 2010 WorldNetDaily
The states are so broke they're borrowing from the federal government to make burgeoning unemployment insurance benefits – prompting the federal government to borrow the funds from communist China, Jerome Corsi's Red Alert reports.
"It is a job crisis that was created in the first place because Democratic and Republican administrations alike have sent millions of American jobs to China under the illusion 'free-trade' agreements would create U.S. job prosperity," Corsi wrote.
He added, "The only possible winner is China."
China got the jobs, which will be worth something provided the U.S. consumer has at least enough money left to buy some retail consumer goods, most likely made in China, Corsi noted.
"China also gets the loans, which may be paid off, provided the Obama administration does not run such deficits that the U.S. debt crisis begins to implode on the model of the Greek debt crisis," Corsi wrote.
Meanwhile, many of the 10 million Americans unemployed since the recession began in 2008 are coming up against the current 99-week limit on the maximum unemployment insurance benefits they are allowed to collect.
Meanwhile, the Democratic Party-controlled Congress in Washington is debating the extension of unemployment benefits beyond the current 99-week limit as part of a much larger spending bill.
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