Are You In?

Updated numbers for the national debt are just out: It’s now $14,639,000,000,000.

When Barack Obama took the oath of office twice on Jan. 20, 2009, CBS’ amazing number cruncher Mark Knoller reports, the national debt was $10,626,000,000,000.

From the LA Times.

China Criticizes Washington Politicians Who Refused To Address U.S. Debt

China, sitting on the world's biggest foreign exchange reserves of around $3.20 trillion as of the end of June, is the largest holder of US Treasuries. — Photo by AP

Even the Chinese couldn't resist the chance to poke fun at and criticize the financial circus displayed by Washington, D.C. politicians this past week and the Chinese went as far as to vow that they will continue to diversify their currency holdings.

As the single largest holder of U.S. treasuries, China's opinion of D.C.'s deficit reduction plan is key.

From the report at DAWN:

China warned Wednesday that tortured efforts to raise the US debt ceiling had failed to defuse Washington’s “debt bomb”, and that it would further diversify its currency holdings away from the dollar.

But a failure to rein in US borrowing could “jeopardise the well-being of hundreds of millions of families within and beyond the US borders”, the official Xinhua news agency said in a blistering commentary on the deal.

“The months-long tug of war between Democrats and Republicans…failed to defuse Washington’s debt bomb for good, only delaying an immediate detonation by making the fuse an inch longer,” the commentary said.

“Meanwhile, the madcap farce of brinkmanship has disclosed yet another ticking bomb in the heartland of the sole superpower in the world — the crippling tendency to politicise the economics while trivialising the politics.”

China, sitting on the world’s biggest foreign exchange reserves of around $3.20 trillion as of the end of June, is the largest holder of US Treasuries.

So America, how does it feel to be schooled on economic failures here by a communist country?

China says US deal ‘failed to defuse debt bomb’


BEIJING: China warned Wednesday that tortured efforts to raise the US debt ceiling had failed to defuse Washington’s “debt bomb”, and that it would further diversify its currency holdings away from the dollar.

US President Barack Obama finally signed an emergency austerity bill on Tuesday that averted what would have been a catastrophic debt default for the world’s biggest economy.

But a failure to rein in US borrowing could “jeopardise the well-being of hundreds of millions of families within and beyond the US borders”, the official Xinhua news agency said in a blistering commentary on the deal.

“The months-long tug of war between Democrats and Republicans…failed to defuse Washington’s debt bomb for good, only delaying an immediate detonation by making the fuse an inch longer,” the commentary said.

“Meanwhile, the madcap farce of brinkmanship has disclosed yet another ticking bomb in the heartland of the sole superpower in the world — the crippling tendency to politicise the economics while trivialising the politics.”

China, sitting on the world’s biggest foreign exchange reserves of around $3.20 trillion as of the end of June, is the largest holder of US Treasuries.

Xinhua’s comments came as China’s central bank said it would continue to diversify its foreign currency investments, signalling growing concerns in Beijing over the US debt crisis and economic downturn.

“China’s foreign exchange reserves will continue following the principle of diversified investment, enhancing risk management,” People’s Bank of China governor Zhou Xiaochuan said in a statement.

“Large fluctuations and uncertainty in the US treasury bond market will affect the stability of international monetary and financial systems, which will hurt global economic recovery.”

The statement, in which he also welcomed the plan, was the first official response to the deal to raise to the limit on US borrowing and enact at least $2.1 trillion in spending cuts over the next decade.

“We will further study and pay close attention to the details of the plan in hopes the US government and Congress adopts responsible policy measures to properly deal with the debt problem,” he added.

Also Wednesday, Xinhua said Chinese rating agency Dagong, which has links to the government through its chairman, had downgraded the United States’ credit rating from A+ to A, with a negative outlook.

Dagong has made a name for itself by hitting out at its three Western rivals — Moody’s, Fitch and Standard & Poor’s — saying they caused the financial crisis by failing to properly disclose risk.

The big three agencies have consistently awarded Washington their highest possible “AAA” rating — allowing the United States to take on more debt at lower cost.

Dagong’s chairman, Guan Jianzhong, is a paid adviser to China’s government, but insists his agency is fully independent.

The agency is trying to build an international profile, but currently has little influence outside China.

The US House of Representatives late Monday approved a package that would slash spending in return for raising the legal limit on US sovereign debt, in a bid to avoid a catastrophic default.

An article in the overseas edition of the People’s Daily on Tuesday said the last-minute deal revealed the long-term risks to China’s massive holdings of US Treasuries.

China’s state television network CCTV has also criticised the agreement in a rare editorial broadcast on the national evening bulletin on Monday, saying it had more “pomp and ceremony than substance”.

Geithner Tells 'Meet The Press' That Economy Is Growing Faster Than Obama Expected!

Good news! It's over, baby! The recession is over! Barack Hussein Obama indeed IS the miracle worker! The American economy is growing like a patch of kudzu! In fact, we might just have to put the brakes on the economy because if it keeps growing at this pace, we might run out of labor here in America!

From Breitbart:

Geithner says economy growing faster than expected


WASHINGTON (AP) - Treasury Secretary Timothy Geithner says the economy is growing faster than the Obama administration expected.
He tells NBC's "Meet the Press" that the country is on the way to sustained job creation. But he acknowledges that unemployment may remain high, close to 10 percent.
Geithner says there's more confidence in the business world, and he says the private sector is growing. He also says people are spending more.
He said he sees encouraging signs that should make Americans confident the country will emerge stronger.

State Of The Nation

by Findalis of Monkey in the Middle

Book of Obama:  Chapter 10

 


e placed The Holy Suit and Tie once again upon His body, and ascended once again to the Dome.  There the assembled chapter of the Congress, the Holy Justices of the land, the members of the anointed Cabinet and guests from near and far sat awaiting His words.  Unlike the year before, He wasn't popular.  Every plan, every idea He had, was rejected by the people.

"We do not want your Cap and Trade, Health Care, or other Moonbat ideas.  Your bowing down to dictators, despots and tyrants around the world does not put us at ease You have apologized to everyone for all the supposed evils that we were suspected of doing.  You are getting ready to destroy our laws, by declaring the Holy Document invalid.  We have heard enough lies from you, your dogs Emanuel, Axelrod, Pelosi and Reid.  We've heard them all and we've learned a couple of things."

The Anointed One just smiled and then addressed the Nation:

short year ago I took office, but that is just a breeze in time.  Look back upon our Founding Fathers, our struggles during the Civil War, the Depression.  We did not flounder or despair.  Nor did we despair through out the struggles of the Civil Rights Movement.  And I will not despair now.

For I inherited a bad economy that was shaken to its core.  I opposed all of the bailouts done, for I saw the harm they will do.  My stimulus plan has created jobs in teaching, rescue, construction and other sectors.

We need Health Care now!  I demand Congress to pass.  Cap and Trade too.  Forget about the Holy Document.  There is too much to do.

I am a man of the people, representative of the Middle Class, My values are the same as yours.  I love this country so much I would never bad name it.  But we did wrong with the Muslim world, and other places too.  I said to them I am sorry, there is nothing you can do.

I said I would create jobs, and that I will do.  For every man and woman.  New industries, new factories, Red, White, Blue, and Green.  We must compete with China, Korea, and Germany too.  This we must excel in if we are going to continually survive.

I will eliminate the nukes of the world, starting with our own.  For did not the Great Reagan of old try to achieve this very goal.

People through out the land write to Me with their problems.  A businessman in Denver*, or in Philadelphia, a teacher in the city, the cop on the beat, a child who wants to know why Mommy and Daddy lost their jobs, another who just lost his home.  I read all their letters, I know all their problems, and I will solve them all.

I could go on all night, but that will do no good at all.  I promised you Hope and Change, and did not lie to you on that, for I am not President #43.

And after The Anointed One had finished His speech, His  followers were full of glee.  For they just knew that once again He had saved the day.

But from right across the river, from the city of Richmond in the land of Virginia, came a new prophet from the right.  Bob The Wise McDonnell.

The Prophet spoke of those with a job, how 1 in 10 lost theirs.
He spoke of the despair the nation felt, of how the economy  was gone.
He spoke of the need for smaller government, how The Anointed One did spend.
He said that the time for spending cuts and freezes were last year, not when your polling number has shown you have failed.

The Prophet McDonnell told the people that it isn't too late.
That the time has come to sit and wait,
So The Anointed One could not shove His agenda down our throats.

He told the assembled people and media the truth.
And our solutions aren't 1,000-page bills that no one has fully read,
After being crafted behind closed doors with special interests.
In fact, many of our proposals are available online at solutions.gop.gov, and we welcome your ideas on Facebook and Twitter.

He told them this and more.

 And through it all, the world went on, the nation will endure.

The GOP got Teddy's seat, they can get more they will.
For the people have seen the truth, heard the lies and broken promises.
Unlike those on the left, the right will not just yell.
They are the ones, in Midterm years, come out in droves to vote.

Reid, Frank and Boxer, plus many more are running scared tonight.
For the GOP has the will, the drive and the clout,
To drive the Moonbats back into the dark.

We just have to wait for November to do it!


*  The President mentioned many people in his speech, but none by name, nor did he recognize any of them in the balcony (he only recognized his wife).  Could it be they are all named:  Ellie Light?