Posted on 08/06/2011 4:21:42 AM PDT by Oldeconomybuyer
The largest foreign holder of U.S. treasuries responds to the S&P downgrading by calling for decreases in U.S. military outlays and social spending.
Beijing — China called on the United States to "cure its addiction to debts" and "learn to live within its means" in a searing commentary published Saturday by the official New China News Agency in response to Standard & Poor's historic downgrading of the U.S. government's credit rating a day earlier.
China, the largest foreign holder of U.S. federal debt, blamed "short-sighted political wrangling in Washington" for creating the current financial morass that now threatens to undermine the global economy.
"China, the largest creditor of the world's sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets," the commentary said.
"If no substantial cuts were made to the U.S. gigantic military expenditure and bloated social welfare costs, the downgrade would prove to be only a prelude to more devastating credit rating cuts, which will further roil the global financial markets all along the way," it continued.
(Excerpt) Read more at latimes.com ...
OK, we promise we won’t buy any more Chinese made crap.
The U.S. has "lost face." Any respect that other countries once had toward us is disappearing. This president has made us the laughing stock of the world.
Restore hope. Regain Respect. Replace Obama!
“China, the largest creditor of the world’s sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China’s dollar assets,” the commentary said.
Because you, US People, Must continue to buy our stuff or we go broke too.
They’re right about the “bloated social welfare costs”.
Maybe we should cut all welfare, food stamps and Medicaid to those 3rd-4th generation recipients and focus on paying off our loans with the money saved.
Then tell China to go ‘F’ themselves and sell their crappy plastic crap to someone else.
I don't understand why they are angry. Obama is doing everything possible to weaken us.
You are right of course. We are an international joke. We had better turn this ship around and get back on course. We are sailing right into a hurricane.
“Must continue to buy our stuff or we go broke too.”
Maybe it is time “free trade” became “fair trade”.
just what the US needs ... a Chinese mother
BTW, look at that disgusting picture of our small-p potus bowing to a Communist dictator
YES to that
Cut bloated social programs? Check!
Stop buying Chinese worthless crap? Check!
Stop military spending? Hell no. We are not bent on the destruction of the US, like Dear Leader.
Congress critters are coming home, people. Go see them and give them an earful!
I demand that anti-president Obozo stay within his means and within the confines of the White Hut. I further demand that this puffed up, narcissistic jackass of a communist fulfill America’s responsibilities to Taiwan!
Ha!
The borrower is slave to the lender.
China gets it, but I doubt “President Downgrade” will listen.
First Putin, and now this. How embarrassing. Thanks 0bama. Oh, btw, quit bowing to foreign leaders, that's embarrassing too.
5.56mm
China demands U.S. ‘live within its means’, tighten its collective belt, and pay its debts without intentional devaluation or default. Reasonable, if you’re asking me.
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