China tells US to get its house in order

[Catonahottinroof]

http://www.independent.co.uk/news/world/americas/get-your-fiscal-house-in-order-china-warns-us-as-superpower-expresses-concern-for-13tn-of-investments-8864935.html

[CitizenBBN]

Politically the Chinese government telling us to up the debt ceiling and "insure the safety of Chinese investments" is as likely to guarantee we default as anything I've seen come up in this process. Not many Americans understand economics at this level but most understand when a Communist country is telling us what to do, and we don't like being told what to do as a general rule.

I have no desire to undermine the faith and credit of the US government or the currency, but at the same time the spending into oblivion we are doing is undermining it in slow motion and leading to the same inevitable point. I doubt this showdown puts us on the path to fiscal responsibility but I know we're spinning out of control just upping the limit at Obama's whim. We'll be $20-25 trillion in debt before we have a chance at a new direction in the White House if we don't slow this down.

[dan_bgblue]

Since China only holds about 7% of the total debt load, tell them to get in line with the other 65% of the debt holders, the American public.

The Chinese are more worried about the potential export goods market that is the USA than they are about the potential of default

[CitizenBBN]

Since China only holds about 7% of the total debt load, tell them to get in line with the other 65% of the debt holders, the American public.

The Chinese are more worried about the potential export goods market that is the USA than they are about the potential of default

Agreed, and in the long term if we ever really did get back to working for a living as a nation the Chinese wouldn't stand a chance in the world economy competition.

[Doc]

Of course not raising the debt limit was a major issue to Senator Obama. Interesting who one changes their position when its YOUR handouts that need funding.

It should also be noted that it was under this presidents guidance that the credit rating was downgraded and that wasn't a major issue. It was explained and spun a variety of ways to the common man as not a big deal. Funny too how that works.

[UKHistory]

It is not cool to hear China or any country talking to the US in that manner.

The way in which our elected officials deal with one another and our constant media cyles helps create this situation.

Where I live people really seemed upset about the downgrading of our credit the last go around.

That was serious. Now we have serious debt problems and an infrastructure that is woefully aging.

We have to make some decisions and some sacrifices--by all citizens.

Maybe we need to increase the retirement age to 67 for starters. How will that go over?

Raising the retirement age may be a necessary step.

But I tell yeah, any politician who threatens or seriously believes that defaulting on our debt or not increasing the debt ceiling is in my view committing treason.

One of the first acts of our government was to put in writing that the debts of the Continental Congress would be honored and repaid. We told the world that America was a serious, if small and militarily weak, country.

We have elected people who don't have the basic understanding of economics and it frightens me.

On both sides of the aisle we have morons who don't understand what it takes to keep this country running.