Seriously, did nobody teach Congress that you always tell creditors that you’re in good shape financially? Because China, the U.S.’s largest creditor, is not looking so reassured.
A Chinese official warned the U.S. on Mondaythat the “clock is ticking” to avoid a U.S. credit default-which would hurt not only the U.S., but the global economy (and especially China).
Vice Finance Minister Zhu Guangyao didn’t mince words: he said he hopes the U.S. “fully understands the lessons of history,” ominously reminding everyone of the 2011 credit downgrade. Calling the U.S. and China “inseparable,” Zhou asked that the U.S. “earnestly take steps to resolve” the issue. The U.S. has to vote to increase the debt ceiling by October 17 or face default. Read more at BBC New.
{Andy Heller-Matzav.com Newscenter}
The simplest solution to the trillions of dollars the USA owes China would be to cede them California. This would bring great joy to the radical liberals there as they would finally have their people’s utopia. The Chinese also have their own unique and advanced system for solving unemployment, welfare and crime. Hollywood would be granted Hong Kong style status, of course, but would be required to consult with the Party before new ventures. If California is not enough to cover the debt than Chicago, Detroit and New Orleans could be added. Everyone would benefit.