Wolf Talks Debt, China With Centreville Rotary

Congressman warns of consequences if America doesn't cut back on borrowing.

(R-10th district) this week warned of dire consequences for the United States, including a growing dependance on China, if the U.S. does not immediately cut back on spending. 

In a short speech to the Centreville Rotary Club at  restaurant on Tuesday, Wolf stressed that the United States could not continue to borrow billions every month to meet its obligations. 

"You can't sustain it," he said, holding up a chart and hitting it for emphasis. "It isn't like it's far out there. It's now."

Wolf has said that he will not vote to increase the United States' statutory debt limit "unless there is a firm commitment to deal with the larger issue" of America's debt, or it's tied to a plan that puts America "on a path to financial responsibility." House Republicans at the end of May voted to reject a  plan to raise the limit without conditions. Last week Moody's Investor's Service warned that the U.S. would face a downgraded credit rating if Congress did not raise the debt limit in a matter of weeks, which would effectively force the country to pay much more in interest.  

"We have 14 trillion dollars in debt. Fourteen trillion dollars in debt. Forty-one cents of every dollar we spend—some say 42 or 41—we borrow. We borrow a large portion from the Chinese. China is our biggest foreign holder," Wolf said.

The congressman frequently referred to China in his remarks, which were directed to an audience that included a number of small business owners from the area. 

"China today—if anyone here is Catholic—China has 30 Catholic bishops in jail under house arrest. They're persecuting the Catholic Church. The bishop of Hong Kong was in to see me a few months ago. The Catholic Church is going through a very difficult time," Wolf said.

"If you're Protestant, they have hundreds of Protestant house church leaders in jail today...If you're Buddhist, I went to Tibet a number of years ago. They have devastated Tibet. Lhasa is a dirty Chinese city now, and they have Buddhist monks and Buddhist nuns in jail and everything. If you're Muslim, what they're doing to the Uyghurs there," he said.

"I think it becomes not only an economic issue, but a moral issue," he said, adding near the close of his remarks that "the number one supporter of the genocide in Darfur, Sudan is China."

The congressman also fielded questions from the audience on a few topics. One person asked how willing the current members of Congress were to work across party lines for the common good. 

"It's the worst that I've seen," said Wolf, who is serving his 16th term in office. He said that while his best friend in Congress is a Democrat, that kind of trust across party lines isn't seen much anymore. 

Correction: Due to an editorial error, a sentence that should have read "increase the limit," instead read "reduce the limit." It has been corrected. 


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