Hollywood actor and producer turned columnist Chuck Norris explained how President Joe Biden is currently pushing America to utter dependence on China in an op-ed article published on Monday.
Norris revealed in his WND article that the United States' increasing national debt--"with more than one-half of it being held by private investors in foreign lands"--including China, is exposing America to great national security concerns, besides crippling the economy and Americans' families and future.
"There has been much said and written about the White House's new world-record-breaking $6 trillion dollar budget. But what I have to say will absolutely convince you the fiscal insanity coming from the Oval Office will cripple our economy and your future and family, too. Whether you're Republican, Democrat or Independent, this is important information you and your loved ones must know about the future," Norris began his article.
Norris, an outspoken Christian and long-time Republican, pointed out that Biden's $6 trillion budget is "the largest in U.S. history" leaving the country with a national deficit of $1.931 trillion and a "gargantuan $28 trillion" national debt, which is thrice that of 2007's.
He pointed out that the national debt was way smaller during the previous five years under former President Donald Trump, ranging from 1.2% to 2.1%, while Biden's is projected to remain constantly in the range of 2.1% to 2.3% with such a colossal national budget, deficit, and debt until 2025 based on the U.S. Bureau of Economic Analysis published by the Morningstar.
"Is the White House even listening to anyone anymore or just running amok its own way? Are they intentionally leading us as lambs to the financial slaughter? Bottom line, Biden's $6 trillion budget is bad news for your wallet and financial portfolio," he stressed.
Norris said these will make the United States "vulnerable and susceptable" to the "enemies of the state" such as China because of the foreign investments from where the national debt comes from. He pointed out a 2012 report from the International Business Times that said "China overtook Japan as the largest holder of U.S. national debt in 2009" and is projected to "be twice the size of the U.S. gross domestic product by 2037" if no monetary policy change is done.
He said, although Japan has regained the spot as the largest holder of U.S. National debt since this year began, if Biden's financial strategies won't change for the country, it will once again push America to dependency on China.
"The size, scope, growth and communist political regime of China make it the No. 1 threat to U.S. economic and national power, stability and security, according to Market Watch. And yet, they continue to purchase our national debt like its candy, and we in turn further bolster the Chinese economy by continuing to purchase myriad products made in China. What am I missing?" He stressed.
"And what's Biden's plan to pull us out of this fiscal bondage and foreign servitude? Spend more and let China purchase more of the U.S. via its debt?" He added. "It is a surreal economic nightmare that foreign investors own more of the U.S. national debt than the U.S. government itself!"
Norris also highlighted how Biden could "actually weaken our national security" since the $6 trillion budget only allocates 1.6% to Defense and 0.2% to Homeland Security despite migrants "flooding the U.S. Southern border at alarming rates" and Iran once more "arming" against Israel and the Middle East, such that "China is being emboldened on the world stage by U.S. passiveness while increasing "tax burdens on mom-and-pop businesses and corporations across America."
He said that the 65% decline in tax burden during Trump's time will now rollback under Biden based on a Washington Post report, thereby causing the shrinkage in paychecks and the value of the U.S. dollar while jeopardizing each American's future finances.
Norris, who was previously bashed for his political views and endorsements, suggested that a way to prevent one from experiencing the consequences of Biden's poor financial strategies to regain the strength of the U.S. dollar is to invest in gold and precious minerals like he did for himself, his family, and his business.
"We need to protect what God has been good enough to give and to entrust to us: our faith, family, freedom and finances," he said.
"The time for action and change is now! It's time for you to look beyond the dollar for your ongoing financial security and safety. Investing in precious metals is your way through and out of the next five years of inflation," he continued.
