The trade deficit leads to budget deficits, and we're having to fund a lot of these deficits. That's eating into our ability to fund our own government. We're exposed by that debt to blackmail from other countries, including Communist China, which holds a lot of our debt. So clearly, on the first question, these unequivocally unequal national economic emergencies and qualify under iepa. The second point has to do with what is a semantical one. (08:02–08:11)
CLAIM
Asserts that U.S. debt to foreign countries, including China, poses a risk of economic blackmail.
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