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Obama absent as China scolds U.S. for debt addiction
AP via CBC News ^ | Aug 6, 2011 | AP

Posted on 08/07/2011 6:09:41 PM PDT by Qbert

U.S. President Barack Obama remained largely silent as China, the largest foreign holder of U.S. debt, demanded Saturday that America confront its "addiction to debts" in the wake of Standard & Poor's decision to downgrade the U.S. credit rating.

The president, spending the weekend at Camp David, left it to press secretary Jay Carney to say it's clear Washington "must do better" in tackling soaring deficits and other economic woes.

A statement from Carney said talks that produced Tuesday's $2 trillion US compromise on raising the country's borrowing limit had been too drawn-out and "divisive." But the statement didn't directly address Friday's move by Standard & Poor's to drop U.S. government debt to AA+ from triple-A.

(Excerpt) Read more at cbc.ca ...


TOPICS: Government; News/Current Events
KEYWORDS: 8811; 882011; aug82011; august82011; china; downgrade; obama; obamadowngrade
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1 posted on 08/07/2011 6:09:47 PM PDT by Qbert
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To: Qbert

He new ahead of time about the downgrade and went to Camp David with his tail between his legs. We a...


2 posted on 08/07/2011 6:13:15 PM PDT by MAKOTHEDOG
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To: Qbert

Can we start the trade war yet?


3 posted on 08/07/2011 6:14:36 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: MAKOTHEDOG

He’s waiting to see what happens tomorrow. They’re, WH and press, are hoping it’s not that bad. But they’re making sure everyone knows it’s the Tea Party’s fault if it is bad.


4 posted on 08/07/2011 6:15:31 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: Qbert
In The Wake Of One Of The U.S's Biggest Financial Setbacks - Obama Did Nothing To Calm investors.


5 posted on 08/07/2011 6:15:42 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
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To: Qbert

China wanted us to be in debt with us, because they are loan sharks. THey do not want us to pay the loan back, they want us to be at their mercy and be on a guilt trip.

That being said, we are completely irresponsible, and, worse, watch Congress tell us to save the way the Chinese want us to: cut defense spending


6 posted on 08/07/2011 6:15:55 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: Qbert

TOTUS hasn’t figured out what to say yet.


7 posted on 08/07/2011 6:17:47 PM PDT by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
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To: Cringing Negativism Network
Can we start the trade war yet?

I think our government spending more than it takes in is the problem.

8 posted on 08/07/2011 6:17:56 PM PDT by tsowellfan (Let's make the 2012 campaign: "The War on Error")
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To: Cringing Negativism Network
Personally, I would rather declare .... jubilee. zer0 would be madder than a hornet, as would china.
9 posted on 08/07/2011 6:21:45 PM PDT by no-to-illegals (Please God, Protect and Bless Our Men and Women in Uniform with Victory. Amen.)
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To: tsowellfan

Our government would be taking in enough to cover spending if we had more people working.

We would have more people working, if we weren’t sending jobs elsewhere.

It’s not complicated.


10 posted on 08/07/2011 6:22:34 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: Terry Mross

I think it is going to be a rough day tomorrow. The same old stupid 0bama speech is going to sound even more hollow tomorrow than all the others combined.


11 posted on 08/07/2011 6:22:53 PM PDT by MAKOTHEDOG
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To: NoLibZone

Great graphic!


12 posted on 08/07/2011 6:39:10 PM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: no-to-illegals

Personally, I would rather declare .... jubilee. zer0 would be madder than a hornet, as would china.


I’ve never thought much about it. But declaring a Jubilee would do wonders as a world reset now wouldn’t it?


13 posted on 08/07/2011 6:40:06 PM PDT by The Working Man
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To: Cringing Negativism Network

Unions


14 posted on 08/07/2011 6:41:57 PM PDT by tsowellfan (Let's make the 2012 campaign: "The War on Error")
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To: tsowellfan

Well yes ok.

It’s not too complicated for a 5th grader then.

Though you have a point. :D


15 posted on 08/07/2011 6:45:50 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: Cringing Negativism Network
We would have more people working, if we weren’t sending jobs elsewhere.

Those jobs do not belong to us. They belong to the companies that create them. If those countries are taxed and Union infested to the point where it's not worth staying in this country - can you blame them?

China, Mexico, India, Italy, Peru, Chile did not come here and take those jobs away from us. They are obviously more business friendly than the United States.

You can have your trade war but it will not fix the problem that caused the downgrade.

16 posted on 08/07/2011 6:48:15 PM PDT by tsowellfan (Let's make the 2012 campaign: "The War on Error")
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To: tsowellfan
Tax a company to death and they'll either go out of business or go elsewhere to survive. Happens everytime.

Requiring China to Tax Tax Tax and allow Unions so that the consumer can pay more for the products they buy is not the answer.

The problem is here in the USA not in all those other countries where American companies now call home.

17 posted on 08/07/2011 6:51:25 PM PDT by tsowellfan (Let's make the 2012 campaign: "The War on Error")
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To: tsowellfan
Darn and here I thought I had found common ground with you, so we could stop arguing momentarily. :)

If those countries are taxed and Union infested to the point where it's not worth staying in this country - can you blame them?

I can and I do. Yes. I blame "American" companies which sell our nation out. Yes I blame them. Heck yes.

18 posted on 08/07/2011 6:53:25 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: Cringing Negativism Network
Washington DC has sold the American company out and as long as this is not yet Cuba, they are free to move elsewhere.

They are American companies only for as long as they are in the United States and welcomed here. They are not part of the US Government... yet.

19 posted on 08/07/2011 7:01:08 PM PDT by tsowellfan (Let's make the 2012 campaign: "The War on Error")
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To: tsowellfan

I am not part of the US government, but my loyalty is to America.

Period.


20 posted on 08/07/2011 7:02:44 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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