OK, this makes all kinds of sense. We’re going to borrow money from the Chinese and give it to the Greeks?
President Barack Obama on Tuesday urged European countries and bondholders to prevent a “disastrous” default by Greece and pledged U.S. support to help tackle the country’s debt crisis.
“U.S. support” == IMF loans guaranteed by the American taxpayer, who’s broke. So, we’ll ultimately borrow the money from China.
I’m sure my daughter’s children will be glad to know they’re on the hook for paying it back.