Those who scold and denigrate the United States for using a disproportionate amount of the world’s natural resources seemingly have no problem with the U.S. government consuming a lion’s share of the world’s available capital resources to fund our national debt. Liberals accuse America of imposing democracy “at the point of a gun,” but they are willing to impose their own views on others as they advocate greater and greater government spending at an alarming rate.

ShanghaiDaily.com reported on December 18 that Deputy Governor of the People’s Bank of China Zhu Min commented on the U.S. debt during an address to an academic audience. The news report did not specify whether he responded rhetorically or to a direct demand in saying, “The United States cannot force foreign governments to increase their holding of Treasuries.” Yet the word “force” is telling. “Double the holdings?” Mr. Min declared, “It is definitely impossible.” Mr. Min’s words sound like the response to a definite and unreasonable demand. “The world does not have so much money to buy more U.S. Treasuries,” he said.

Mr. Min’s major point was loud and clear. The world does not have enough money to buy U.S. debt. China, recognizing that self-restraint has been removed and that our debt is about to explode, is resisting U.S. demands for more capital.

Until now, the sale of treasuries to finance our increasing debt has not caused serious alarm, even though when other countries buy our bonds, they obviously divert capital away from their own and toward our uses. When others no longer see us as a good risk, the U.S. government will have to introduce into our economy freshly-printed money, which inevitably leads to inflation—perhaps hyper-inflation.

It is interesting to note: A communist country is putting the brakes on the type of spending that could actually supplant a capitalist economy with a socialist one. Experience shows that cutting taxes and reducing the size of government would actually stimulate the economy. Is insistence on massive spending an adherence to a liberal faith that government must grow and spend more? Or is it a purposeful move to engage the Cloward-Piven strategy and bankrupt our economic system by increasing expensive entitlements? The Cloward/Piven Strategy is another method employed by the radical Left to create and manage crisis. The Cloward/Piven Strategy is named after Columbia University sociologists Richard Andrew Cloward and Frances Fox Piven. Their goal is to overthrow capitalism by overwhelming the government bureaucracy with entitlement demands.

It is rumored that Mr. Obama, in his upcoming State of the Union Address, may introduce as a title for his administration, “A New Foundation.” He is trying to follow in the tradition of previous administrations such as the New Deal, the Great Society, and the New Frontier. “A New Foundation” might be the most appropriate title for the current administration if the foundation our country was built on is about to crumble.

Karl Marx predicted the success of socialism only after a fully-developed capitalist stage. Hence America’s conversion would fulfill his prophesy. Liberals who condemn our country, saying we use 25 percent of the world’s resources to support 5 percent of the world’s population, should be up-in-arms at the thought that we propose to use an even more disproportionate percentage of the world’s capital resources to fund our debt.