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$15 trillion a year. with china s very, very rapid growth rate and america s lackluster growth rate, if you look at the trends china will indeed become the world s biggest, they will become number one, a few years before the year 2030. it is not just the growth rate, gregg. there are a couple other factors going on here too. europe and are drowning in debt. china has a near $3 trillion reserve surplus. you ve got demographics. europe and america are aging rapidly. in europe the population is shrinking. there is no such demographic problem in china. you add it all together, debt, demographics and growth rate china is indeed on course to become number one fairly soon. gregg, hold on a second. there is a danger in just extrapolating out from current trends. what s in place will go on forever. we did that with japan 30 years ago. got that one wrong. maybe we shouldn t be ....
Funds given to the chinese? yes. in the case of solyndra, i don t know where that has gone, whether that s gone to some other company. there was a very big financial contributor to the democratic party, and president obama in the 2008 election. somebody from oklahoma. that ended up also being a big-wig in solyndra, so you have those sort of dynamics to worry about as well and concerned about and irritated about. gregg: these could have been loans, with you they were grants in the great wisdom of the backers of the stimulus. senator charles grassley, thanks for being with us. i m always glad to be with you, gregg. martha: back to lansing where we are covering breaking news this morning in america s newsroom. look at the crowds that have massed outside the state capitol in lansing, also inside the state capitol, the vote is underway as we speak to pass a new law that would make it okay to be part of a union shop and ....
Auto sector is alive and well and made a comeback, the fact it hasn t. the only way michigan can be competitive with its neighboring states and global economy is have a right-to-work state. gregg: president obama said yesterday when he was there in michigan, they want to take away your to earn more money. what say you? well i think essentially the idea is if there is prosperity, a lot of prosperity, more people will have the opportunity to make a whole lot of money, not a handful of people. what we ve seen particularly with unions and the government is, where there is stagnant job growth, whether california, illinois, those kind of places, where senority takes precedence over hiring. so you may have a captain or sergeant, somewhere who is making so much money if he would take a small cut maybe they could hire two more rookies. they don t do that kind of stuff. it happens in every city and every town. we heard the horror stories throughout this economic malaise. i kind of disagree wit ....