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SHANGHAI — China, the largest foreign holder of United States debt, said Saturday that Washington needed to “cure its addiction to debts” and “live within its means,” just hours after the rating agency Standard & Poor’s downgraded America’s long-term debt.
Beijing called on Washington to make substantial cuts to its “gigantic military expenditure” and its “bloated social welfare” programs.
China Condemns U.S. 'Addiction to Debts'
Seeded on Sat Aug 6, 2011 2:48 PM EDT
Article Source: The New York Times- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
This, the S&P downgrade and the backlash from the American public over the debt ceiling ordeal are a much needed bitchslap to the idiots in Washington DC.
The fact that we have all these elected officials whose primary goal is just to get re-elected every 4-6 years makes for really bad long-term leadership and fiscal responsibility.
It should be no more apparent than the fact that both sides have maneuvered so that their decision making about America's financial wellbeing can take place AFTER the upcoming elections. If their desire was to be accountable for those decisions, they would have had no problem with tackling those hard issues beforehand, and being judged accordingly by the voting American public. Pussies!
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