The world's economy relies on the full faith and credit of the United States, and it's one thing that enables us to keep all of our interest rates down, so that we can afford to borrow and grow and live.

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The more China sold to the US, the more dollars it accumulated, and thus the more US Treasuries it bought, driving our interest rates down.

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At the same time, interest rates in the US are currently near record lows - helping drive down cost of raising funds for companies.

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In fact, all that keeping tax rates down for the wealthy does is allow them to provide us the money they should pay in taxes as a profit center for them.

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With the booming US economy showing no signs of slowing down, the data reignited fears that the Federal Reserve will raise interest rates when it next meets on 16 May.

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Keep in mind, the bottom line is if we show discipline here and keep interest rates down by balancing the budget, the American people and the private sector will grow the economy for us.

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The way to get rates down without increasing the deficit is by eliminating loopholes that benefit a few and leave the rest of us paying higher taxes than we otherwise would have to pay.

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