US credit downgraded by Chinese agency:Why doesn't Washington get it?

[tinydancer]

It's unreal to me that in the middle of a budget and debt ceiling debate that the old assholes in the Senate just couldn't help themselves and added pork to the extension bill.

It's insane. McConnell knows full well that this government and this economy is so fragile goes ahead and gets 2 billion dollars for his pet project in Kentucky.

It's seriously insane. The Dems give McConnell 2 Billion that the country doesn't have as a bribe.

And they have the freaking balls to walk out and say they "reached a bipartisan agreement to keep the country on track".

Aye carumba!

This sums up the situation nicely.
Old debts are being paid by making new debts. Truth out!

"The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged," Dagong said in the statement, adding Washington's solvency was vulnerable as old debts were still repaid through raising new debts.

"Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future," it said.

Chinese agency downgrades US credit rating - FRANCE 24

 

[Soggy in NOLA]

Haven't you heard?

We just don't borrow enough money...

 

[tinydancer]

Haven't you heard?

We just don't borrow enough money...

Sadly that could be a Pelosi quote.

 

[g5000]

It's unreal to me that in the middle of a budget and debt ceiling debate that the old assholes in the Senate just couldn't help themselves and added pork to the extension bill.

It's insane. McConnell knows full well that this government and this economy is so fragile goes ahead and gets 2 billion dollars for his pet project in Kentucky.

It's seriously insane. The Dems give McConnell 2 Billion that the country doesn't have as a bribe.

And they have the freaking balls to walk out and say they "reached a bipartisan agreement to keep the country on track".

Aye carumba!

This sums up the situation nicely.
Old debts are being paid by making new debts. Truth out!

"The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged," Dagong said in the statement, adding Washington's solvency was vulnerable as old debts were still repaid through raising new debts.

"Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future," it said.

Chinese agency downgrades US credit rating - FRANCE 24

I will bet a million highly inflated dollars you never heard of Dagong.

 

[Katzndogz]

China needs to shut the purse. Japan already did it. Countries that lend us money should just stop. The same way credit card companies stop approving cards when the debt gets to heavy.

The US is acting like someone who intends to declare bankruptcy and is maxing out whatever they can get now.

 

[FA_Q2]

It's unreal to me that in the middle of a budget and debt ceiling debate that the old assholes in the Senate just couldn't help themselves and added pork to the extension bill.

It's insane. McConnell knows full well that this government and this economy is so fragile goes ahead and gets 2 billion dollars for his pet project in Kentucky.

It's seriously insane. The Dems give McConnell 2 Billion that the country doesn't have as a bribe.

And they have the freaking balls to walk out and say they "reached a bipartisan agreement to keep the country on track".

Aye carumba!

This sums up the situation nicely.
Old debts are being paid by making new debts. Truth out!

"The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged," Dagong said in the statement, adding Washington's solvency was vulnerable as old debts were still repaid through raising new debts.

"Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future," it said.

Chinese agency downgrades US credit rating - FRANCE 24

I will bet a million highly inflated dollars you never heard of Dagong.

Do you have a point?

 

[Katzndogz]

Working with other countries to stop the lending is a course of action the republicans should take. Work behind the scenes promising secure debt repayment once the democrat government fails and is replaced. Judging from the speed at which China downgraded US credit may be an indication this is already being done.

 

[Bronchitus]

I think what those of us who believe that we should just stop borrowing or that our creditors should just stop lending us money don't realize is that unlike an individual who breaks his bank by using credit cards, there is no effective bankruptcy court to force a country the size of the United States and with a military the size of ours to pay anyone back. It's the mother of all "too big to fail" situations. Just remember that we may be on an economic treadmill, but so are our creditors and the only effective method to ensure payback is a loan sharks solution, beat it out of us. So, until a bigger bully than us grows into the role, we will remain the big kid who steals everyone's lunch money.

 

[Neotrotsky]

Well it won't be the first for Papa Obama

wait, he actually was the first president to have it downgraded

so he should be use to it

 

[JimH52]

The reason we were downgraded is because of the hissy fit that Teddy Cruz made on the Senate floor. That emboldened the Baggers which lead to the shutdown and near default. Oh...and now it is estimated that the GOP cost the country 24 BILLION DOLLARS in their attempt to...whatever they were trying to do.

 

[Neotrotsky]

Of course

not all the money Papa Obama spent

what were those credit agencies thinking of

 

[FA_Q2]

I think what those of us who believe that we should just stop borrowing or that our creditors should just stop lending us money don't realize is that unlike an individual who breaks his bank by using credit cards, there is no effective bankruptcy court to force a country the size of the United States and with a military the size of ours to pay anyone back. It's the mother of all "too big to fail" situations. Just remember that we may be on an economic treadmill, but so are our creditors and the only effective method to ensure payback is a loan sharks solution, beat it out of us. So, until a bigger bully than us grows into the role, we will remain the big kid who steals everyone's lunch money.

Well, no. That completely misses the point here. Our ability to borrow is based solely on our ability to pay it back. Puff up and start telling other nations that we don’t have to pay anything back is essentially asking them to cut off the spigot – something that would devastate our economy. The second problem you are going to run into is that the worse our credit situation gets the more likely the world will shift away from the dollar as the reserve currency. The effect that would have on us is also very serious. The sad part is that defaulting does the same thing just faster. What we must do is come up with a viable long term plan. Our entire government does not seem interested in that though. The only options on the table are spend like drunken idiots to oblivion or crush the government right now by refusing to pay anything. Both childish solutions.

 

[The Rabbi]

The reason we were downgraded is because of the hissy fit that Teddy Cruz made on the Senate floor. That emboldened the Baggers which lead to the shutdown and near default. Oh...and now it is estimated that the GOP cost the country 24 BILLION DOLLARS in their attempt to...whatever they were trying to do.

No, you idiot. We were downgraded because we owe $17 TRILLION dollars, up from 10T when Obozo took office. And because we're spending $1.40 for every 1.00 we take in. Do the math.

 

[Mac1958]

It's unreal to me that in the middle of a budget and debt ceiling debate that the old assholes in the Senate just couldn't help themselves and added pork to the extension bill.

Your premise is flawed.

You're assuming that a politician's top priority is what's best for America. What are you, nuts?

Fundraising and re-election are a higher priority, and pork is one of the easiest ways to accomplish both.

Fuck the country, that's down the list.

.

 

[Neotrotsky]

Agree, most if not all politicians are worthless

Yet people expect that somehow in the collective,
their decisions are even better for the individual than
they can make for themselves.

 

[Dragonlady]

Working with other countries to stop the lending is a course of action the republicans should take. Work behind the scenes promising secure debt repayment once the democrat government fails and is replaced. Judging from the speed at which China downgraded US credit may be an indication this is already being done.

The Democrats have been more fiscally responsible than the Republicans over the past 30 years. The only strategy the right has is to cut taxes and spend, spend, spend.

Obama inherited an economy in free fall and two major wars. He's cut the deficit dramatically but you have to spend in a recession.

If he had an opposition which was more interested in what's best for the country, things might be better. Instead he's had nothing but obstruction.

 

[Vox]

China needs to shut the purse. Japan already did it. Countries that lend us money should just stop. The same way credit card companies stop approving cards when the debt gets to heavy.

The US is acting like someone who intends to declare bankruptcy and is maxing out whatever they can get now.

that is EXACTLY what the lying left is intending to do - maybe not the whole bankruptcy, but they are planning an inflation like never in history.
That's why all their talking points brainwashing agenda to the parrots is - "the debt does not matter" - how many times did you hear it from our leftards?
the stupid shills don't realize that exactly like with obamacare, this is a plan to rob THEM - all their miniscule savings will be nullified as well.

It never ceases to amaze me how retarded people can be.

 

[007]

Because "Washington" is under FULL CONTROL by reid, obama and pelosi, and THEY DON'T GIVE A FUCK.

TAX AND SPEND, PERIOD, TAX AND SPEND BABY, SPEND LIKE THE WIND and JUST DON'T GIVE A FUCK!

 

[Vox]

It's unreal to me that in the middle of a budget and debt ceiling debate that the old assholes in the Senate just couldn't help themselves and added pork to the extension bill.

Your premise is flawed.

You're assuming that a politician's top priority is what's best for America. What are you, nuts?

Fundraising and re-election are a higher priority, and pork is one of the easiest ways to accomplish both.

Fuck the country, that's down the list.

.

there is a small group of the Congressman which differ - and therefore are being smeared both from the left and from RINOs - and all the LSM.
The big pockets a.k.a. Wall Street and big businesses were complaining and wailing about their inability to influence TP Congressmen - with and amazing support from our leftards here ( they have supposedly to be opposing the big money - but they don't think and just parrot whatever their masters send them).
I had a glimpse of the interview on CNN yesterday exactly how big business will find the way to "punish" TP Congressmen - the big kahunas are really scared that all their bought and paid for standard dimocraps and rinos won't be able to protect THEM the next time around - and THEY, the untouchables, can be trimmed down for the benefit of American taxpayer.

 

[Neotrotsky]

The reason we were downgraded is because of the hissy fit that Teddy Cruz made on the Senate floor. That emboldened the Baggers which lead to the shutdown and near default. Oh...and now it is estimated that the GOP cost the country 24 BILLION DOLLARS in their attempt to...whatever they were trying to do.

No, you idiot. We were downgraded because we owe $17 TRILLION dollars, up from 10T when Obozo took office. And because we're spending $1.40 for every 1.00 we take in. Do the math.

PapaObama's spending of dollars per second might have reached
the speed of light by now