China Hopes U.S. Keeps Deficit to Appropriate Size

ABC ^ | 11/8/09

[FromLori]

China hopes that the United States will keep its deficit to an appropriate size to ensure basic stability in the U.S. dollar exchange rate, Chinese Premier Wen Jiabao said on Sunday.

"We have seen some signs of recovery in the U.S. economy ... I hope that as the largest economy in the world and an issuing country of a major reserve currency, the United States will effectively discharge its responsibilities," Wen told a news conference in Egypt.

"Most importantly, we hope the United States will keep an appropriate size to its deficit so that there will be basic stability in the exchange rate, and that is conducive to stability and the recovery of the global economy," he added.

[FromLori]

Oh why can't they just keep obama when he goes there soon.

[cranked]

lulz.....

[CitizenUSA]

Bwaahahaha. The joke’s on you, China. Don’t you know our House just voted for one of the largest expansions of government EVER? No way are they going to raise taxes enough to pay for this stinker, so prepare to dig deep. We have a bunch of free loaders who want health care on the Chinese dime.

[4rcane]

how about $2 trillion every year? Can you give us the money China, which we won’t pay back

[jdsteel]

Solly Challie. You no likee what you gonna get. But, ah-so that is in the white house thinks that Mao was Okee dokee. I hope that make you feel betta.

[The Comedian]

China hopes

No, China plans.

Only half of America (the half that includes CBS), is stupid enough to confuse "hope" with "plan".

We are so toast.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[kabar]

If China stops buying our T-bills or starts cashing in the almost $1 trillion they hold, this country will descend into economic chaos. We are the world's biggest debtor nation and China holds the largest foreign currency reserves. Obama is going to China with his begging bowl. When the Chinese speak, we listen. No more speaking about human rights or Tibet.

The US is in decline. Our children and grandchildren will have a lower standard of living then we have. They are going to be taxed to death just to support the entitlement programs and the annual debt servicing costs.

[CitizenUSA]

Maybe our children will be bankrupt, but at least they’ll have “free” health care.

[CitizenUSA]

4rcane: “Can you give us the money China, which we won’t pay back”

Oh, we’ll pay them back, at a substantial Zimbabwean discount rate I believe, but they’ll get paid.

[ak267]

And if the peons get out of line, Obama’s new civilian security force will set things strait.

[Daisyjane69]

Wish I could be a fly on the wall when China tells Obama:

“We don’t believe you can afford a trillion dollar health care bill. We ‘suggest’ you veto it.”

LOL

[Varsity Flight]

But I beleive this is why the big "health" rush is on. Did you listen to the House “Health” care “debate” last night? Along the line about “balancing” the deficit? I think that’s where they’ll try to get extract the money. Shake down.....

[kabar]

They will be paying for it. In 1950 there were 16 workers for every retiree; today there are 3.3, and by 2030 there will be two. Our children and grandchildren will be taxed to death.

[CitizenUSA]

kabar: “Our children and grandchildren will be taxed to death.”

There’s no political will for the taxes necessary to pay for this stuff. That means deficit spending for as far as the eye can see. Ultimately, something will have to give.

[sten]

keep it under control? democrats?

good luck with that

[smellmygunpowder]

We can always print more money like they do in Zimbabwe

[Dick Holmes]

If China stops buying our T-bills or starts cashing in the almost $1 trillion they hold, this country will descend into economic chaos.

And if we don't keep buying their junk, their country will descend into economic chaos. That's why they have to keep their currency cheap in relation to ours.

[TigerLikesRooster]

China Hopes U.S. Keeps Deficit to Appropriate Size

Asking a scorpion not to sting....

[Caipirabob]

China Hopes U.S. Keeps Deficit to Appropriate Size

China knows as every loyal American that Hussein, Nancy and Harry want to bankrupt and destroy this nation. If that's what they want all they need to do is sit back and enjoy the train wreck.

[kabar]

There’s no political will for the taxes necessary to pay for this stuff. That means deficit spending for as far as the eye can see. Ultimately, something will have to give.

It is not a matter of political will but of political necessity and survival. If we continue to rack up annual trillion dollar deficits "as long as the eye can see" the country's economy will collapse and the dollar will become worthless similar to what happened in the Weimar Republic. Political instability will ensue. In a decade. we will paying $1 trillion a year on just debt servicing costs, which are already the third largest line item in the budget after the entitlement programs and defence.

By 2014, 45% of all Medicare expenses will come from the General Fund. By 2030, one in five Americans will be 65 or older or twice what it is now. This country is headed for a major fiscal train wreck within a decade.

[kabar]

China is the world's largest creditor nation and we are the world's largest debtor nation. The Chinese hold the upper hand. They can manipulate our economy far easier than we can theirs. China sends approxmiately 21% of their exports to the US.

The US is broke and the future looks bleak when you realize that we have approximately $60 trillion in unfunded liabilities from our entitlement programs alone over the next 75 years. By 2030 there will be just two workers for every retiree.