Chinese agency downgrades US credit rating


#1

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.

“Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future,” it said.

france24.com/en/20131017-chinese-agency-downgrades-us-credit-rating

Apparently applying for a new credit card doesn’t solve anything when you have a lack of income.


#2

The leading Democrat politicians in D.C. often tax and borrow money for things that either we don’t need or for things that we don’t need and are immoral such as funding abortions, contraception, and so-called “sex-change” operations. Most people here on CAF know this. It’s too bad most Americans don’t.


#3

Indeed!


#4

Democrats fund none of those things you mentioned. Pleas give specific examples of these practices.


#5

Where have you been? Not only do the abortion loving Dems fund abortion here,our “esteemed” president sends funds to other countries,ie Mexico,to support a woman’s right to rip herbaby from her womb!:mad:


#6

Can you point to any case where the federal government has paid for a sex change? Sorry, they don’t do that.


#7

Title X gives Planned Parenthood, the world’s largest PROVIDER OF ABORTION, at least $300 Million a year, and with the ACA, they will be getting MORE $$$$$$$$$…and no, that’s NOT a “good thing”…its a BAD THING. They do not care about women’s health or they would not push contraceptives OR abortion.

The Mexico City Policy - Obama overturned this his first day in office in 2009, which now allows our tax dollars to once again FUND OVERSEAS ABORTIONS. This means our tax dollars could be killing little babies in a 3rd world country such as India or probably China.

Pro Life Democrats, if there are any, and that number is very small, would NEVER win a national office such as President…that’s why conservative pro lifers look to Republicans. And some are strong pro life advocates such as Christopher Smith from New Jersey.


#8

Care to come back on this thread and apologize and admit you were wrong?

And this just goes to show that being a liberal trumps being Catholic. Willfully ignoring blatant evidence so you can continue to support an evil party.


#9

As opposed to leading Republican politicians who borrow money to fight useless wars that kill people.

rossum


#10

:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:


#11

I seem to recall the democrats having something to do with that too. As a matter of fact the current president is a democrat - no?


#12

No, like them, not opposed to them. Whether it is a war or a social program, if you don’t have the money, you shouldn’t borrow to pay for it. But I think there is a vast gulf between politicians and… math.


#13

In the last presidential election people had a choice between a community organizer left-wing ideologue who never compromises (unless forced) vs a man who, as governor, improved the economy of his state and is also a successful businessman. Advice from world-renowned financial and economic geniuses like Steve Forbes was also ignored, and the community organizer won. So how could anyone expect any other outcome?


#14

Goodoint,livingwordunity :thumbsup:


#15

Finding this only took a few seconds of research on Google:

In shift, Medicare would pay for sex-change operations

For the first time since 1981, when it dubbed sex-change operations “experimental,” Medicare has opened the door to covering transexual operations, adding to the growing list of operations that would be allowed under Obamacare.


#16

I’m not sure what this means for the United States but I don’t like it so well especially considering that I read in another article posted on the forums that China and Germany are the only governments expected to have a budget surplus in the coming years. I don’t want China to have increasing control in this world. I want them to have decreasing control. If they want to have increasing control then let them abolish their Communist People’s Party and all attacks on the freedoms of the people and start a just and free society.


#17

Who owns treasuries


#18

You didn’t give us any specific evidence such as a Congressional Bill and its number. What is the name of the federal program under which the President sends funds to Mexico for abortions?. For the president to do that he must have a financial allocation from Congress to send funds to another country. :rolleyes:


#19

Seriously, this isn’t a secret.

en.wikipedia.org/wiki/Mexico_City_Policy

The Mexico City Policy is an intermittent United States government policy that requires all non-governmental organizations (NGOs) that receive federal funding to refrain from performing or promoting abortion services as a method of family planning with non-US government funds in other countries. The policy has not been in effect since January 23, 2009. Since 1973, USAID has followed the Helms Amendment ruling, banning use of US Government funds to provide abortion as a method of family planning anywhere in the world. [1]
The policy is a political flashpoint in the abortion debate, with Republican administrations adopting it and Democratic administrations rescinding it. The policy was enacted by Republican President Ronald Reagan in 1984, rescinded by Democratic President Bill Clinton in January 1993, re-instituted in January 2001 as Republican President George W. Bush took office, and rescinded January 23, 2009, 2 days after Democratic President Barack Obama took office.[2] It has been referred to by some critics as the Mexico City Gag Rule and the Global Gag Rule,[3]


#20

nytimes.com/2009/01/23/world/americas/23iht-ban23.19639909.html?_r=0

WASHINGTON — President Barack Obama has signed an executive order ending the ban on federal funds for international groups that perform abortions or provide information on the option.

Obama signed it quietly, without coverage by the media, late on Friday afternoon, a contrast to the midday signings with fanfare of executive orders on other subjects earlier in the week.

Before the White House announcement, liberal groups had anticipated the ove and had welcomed the decision while abortion rights foes criticized the president.

Known as the “Mexico City policy,” the ban has been reinstated and then reversed by Republican and Democratic presidents since Republican President Ronald Reagan established it in 1984. Democrat Bill Clinton ended the ban in 1993, but Republican George W. Bush re-instituted it in 2001 as one of his first acts in office.

The policy bans U.S. taxpayer money, usually in the form of U.S. Agency for International Development funds, from going to international family planning groups that either offer abortions or provide information, counseling or referrals about abortion. It is also known as the “global gag rule,” because it prohibits taxpayer funding for groups that lobby to legalize abortion or promote it as a family planning method.

A Democratic official and a senior U.S. official who had earlier disclosed the plans did so on the condition of anonymity because they were not authorized to pre-empt Obama’s announcement.

Obama signed the executive order one day after the 36th anniversary of the landmark Supreme Court ruling in Roe v. Wade that legalized abortion.


DISCLAIMER: The views and opinions expressed in these forums do not necessarily reflect those of Catholic Answers. For official apologetics resources please visit www.catholic.com.