Shock News : Obama Lied About The Debt

It turns out that increasing the debt is the problem, not the solution.

A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington’s resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained “unchanged”.

Dagong lowered its ratings for US local and foreign currency credit from A to A-, maintaining a negative outlook, the agency said in a statement.

The announcement came after the US Congress passed and President Barack Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown.

“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.

Chinese agency downgrades US credit rating – FRANCE 24

About stevengoddard

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9 Responses to Shock News : Obama Lied About The Debt

  1. Reblogged this on Ace Finance News and commented:
    #AceDebtNews – the US has lied about their debt since 2008, when they were so desperate they climbed into bed with the Chinese ,who duly bailed them out! They then duly missed a quarterly payment, but the Chinese gave them one chance, this down-grade is a warning, not to get so close to the wire and not have money to pay them next quarter! #debt #lies

  2. Shazaam says:

    Yeah, the Chinese know that US corporations have been exporting the core of the US tax base out of the US for the last 20 years. And the manufacturing isn’t leaving solely for lower labor costs. Generally they leave for tax reasons. Why hand-over 30-40% of your profits to the US Govt when you can keep it ALL in many overseas countries.

    The biggest corps maintain an army of tax lawyers and lobbyists to ensure they don’t pay any significant taxes, Why not just level the playing field and ditch all of the corporate taxes and make corporate campaign contributions & lobbying illegal. That would take the government back from the corporations as they won’t have an excuse to petition the government for kickbacks, special legislation, exemptions (Obamacare), and special tax rules.

    .

    So, here we have O-Bomb-Ya, the Nobel Peace Prize “winner”, who has never seen a country he doesn’t want to bomb, celebrating about “re-opening” government…. The US still has a declining tax base, and increasing government obligations/expenditures. WTF is O-Bomb-Ya celebrating about????

    Closing the government didn’t save a nickel as the government employees all just got a 16 day paid vacation!! And the furlough didn’t affect government employee sick time or vacation time!!! Typical….

    • Hugh K says:

      Good stuff Shazaam.
      “WTF is O-Bomb-Ya celebrating about????”
      Just more of his ongoing campaigning presidency….screw the country, it’s all about him preening to his base. And why not, the last presidential election proves there are a majority in this country that enjoy being hustled/scammed for a few taxpayer crumbs. Enjoy the freebies while they last leeches…..to your own peril.

      • The only thing people remember is who won the fight. If the morons who run the Republican Party had stuck it out for a few more hours, they would have been the winners. They are just too stupid and weak.

  3. Reblogged this on Reality Check and commented:
    Ya think he lied?

  4. tom0mason says:

    Barry Lightyear Obama to Rino Woody “The debt ceiling infinity and beyond!”
    Because so far it’s been like a toy story.

  5. Anthony Bremner says:

    This video shows that alarmists have no problem collapsing the world economy and creating a world depression just in case they are right about global warming. Science does not matter anymore and facts mean nothing. It seems to be more about anti capitalism. So running up the national debt is no problem to them if it all blows up down the road.
    http://www.upworthy.com/one-guy-with-a-marker-just-made-the-global-warming-debate-completely-obsolete-7?c=ufb1

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