Chinese firm downgrades US credit rating

[Independem]

Chinese firm downgrades US credit rating

BEIJING - The United States has lost its double-A credit rating with Dagong Global Credit Rating Co., Ltd., the first domestic rating agency in China, due to its new round of quantitative easing policy.

The serious defects in the US economy will lead to long-term recession and fundamentally lower the national solvency," Dagong said in a report.

Dagong Global noted the potential overall crisis in the world caused by the US dollar's depreciation would increase the uncertainty of the US recovery and the United States may face much unpredictable risks in solvency in the coming one to two years.

http://www.chinadaily.com.cn/china/2010-11/09/content_11524811.htm

No New Credit, cut up your cards Washington, the straw that broke china’s back, $800 billion tax break that will not help pay off dept but make it larger..

[Arctic Dave]

1. Fire up the printing presses!

[EmilyKent]

2. Moody's is about to as well

if this tax bill passes.

[Hardrada]

3. Thanks a lot Barack!

[dkf]

4. Well he could let all the cuts expire and not extend unemployment.

[highprincipleswork]

5. I hope you're serious.

I hope you're serious.

I mean, yes, he could do exactly that. And that would be a good idea.

Unemployment was never meant to be linked to these tax cuts, and it shouldn't be. It's a completely separate issue. And if Republicans absolutely refuse to allow benefits to continue, let that be their legacy.

[Independem]

6. Republicans start early bashing Obama on tax breaks Tom Coburn John Ensign

Sens. Tom Coburn (R-Okla.) and John Ensign (R-Nev.) voted against ending debate on the tax-cut package because they wanted the cuts to be offset by reduced spending elsewhere in the federal budget.

http://voices.washingtonpost.com/thefix/ (Scroll down 1/3 of the page)

Yep, just blame Obama, its what Republicans do! No accountability for anything.

Sen. Jeff Sessions (R-Ala.), who was the last senator to vote (and voted "no"), said through a spokesperson: "We can do better. There was too much new spending, every penny of which would add to the debt."

Two senators, Oregon Democratic Sens. Jeff Merkley and Ron Wyden, did not vote due to a prior commitment with the Oregon Leadership Summit in Portland. Merkley stated his opposition to the plan ahead of yesterday's vote, saying that he had "very strong concerns" about the addition of "nearly a trillion dollars to the debt" and the extension of tax-cuts for upper-earners. Wyden had not publicly taken a position on the plan.

[dmallind]

7. Meaningless posturing. Check the 10 and 20 yr rates on US debt

if anyone took such fears seriously, the interest rates on long term debt would be exploding.. They instead remain extremely low with no shortage of buyers, including Chinese ones.

[Joanne98]

8. Give us back our jobs fuckers!