RUSH: This morning at the Ronald Reagan Building in Washington, the International Trade Center, Obama addressed the inaugural US-ChiCom strategic and economic dialogue and here is a portion of his remarks.
OBAMA (sped-up): No one nation can meet the challenges of the Twenty-First Century on its own nor effectively advance its interests in isolation. And it’s this fundamental truth that compels to us cooperate. Let us be honest. We know that some are wary of future. Some in China think that America will try to contain China’s ambitions. Some in America think that there is something to fear in a rising China. I take a different view. I believe in a future where China is a strong, prosperous, and successful member of the community of nations; a future when our nations are partners out of necessity but also out of opportunity.
RUSH: Now, let me explain to you what’s going on here. The president of the United States wants China to become a superpower. He does not want the United States to be the sole superpower in the world. But there’s something else going on here, too, folks, and it is this. The ChiComs own our debt, and the ChiComs are not happy with what’s happening to their investment. If you were an investor in the American government, in the United States government — and you’re communist and your whole party is communist — and you see what one of your brothers is doing to your investment, you’d be steamed, too. The ChiComs want answers. That’s what all these ‘dialogues’ are about. US and China, partners in what? Communism? What does he want to be partners with them in? They’re asking Geithner all these questions, Geithner’s promised, ‘Oh, we’re going to get our deficits down.’ I told you first hour that means they’re going to raise taxes.
But if you are a huge investor in our debt, and you saw that? (laughing) You’d be steamed as well. And you would want answers, and you wouldn’t like what is being done to the engine that is going to be responsible for making your debt whole, making your debt good. So I’ll tell you, it’s just… (sigh). Every day, it’s five or six things that this White House is doing and for the most part they’re stumbling now.