The rich ruleth over the poor, and the borrower is servant to the lender.So Dubya was a big time deficit spender. Tax cuts, massive military spending. Obama is promising a giant (~700 bil) "stimulus" package.
Who's picking up the tab? Rich Americans who invest in US Treasuries, the British, the Japanese, the Chinese, etc.
I'd better not hear any complaints about China's ascendancy from anybody that pulled the lever for Dubya or Obama.