Shea-Porter right about Chinese money (just not the way she thinks)

Did Chinese money help contribute to Carol Shea-Porter’s November defeat?

Yes.

But not the way she implied when she grumbled about the matter on ABC News.

I read the other day that the 111th Congress, upon which Shea-Porter sits for a few more days, has accumulated more new federal debt than the previous 100 Congresses combined: $10,429.64 in debt for each American alive today, according to calculations by Terrance Jeffrey.

A great deal of that debt is owed to the Chinese, who continue to buy up U.S. Treasurys.

This excessive spending and debt accumulation fueled the movement that swept Shea-Porter and many of her Democratic colleagues out of office during the midterms.

So, in a manner of speaking, Chinese money did influence the election. Just not through the money-laundering scheme Shea-Porter hypothesized about on ABC News.

Author: Patrick Hynes

Share This Post On
468 ad