Chinese agency downgrades US credit rating

AFP via France24 17 October 2013

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”.

prednisone 10 mg tablet price

Dagong lowered its ratings for US local and foreign currency credit from A to A-, maintaining […]

The shocking true size of our nation’s debt

Michael Tanner NY Post 6/25/2011

The Congressional Budget Office released a new report this week showing that the federal government’s publicly held debt would top 101% of GDP by 2021, more than the value of everything produced in this country over the course of a year. Think of it like owing more on your credit […]

Ryan vs Obama: Where is the real change?

Editorial Union Leader [NH] 4/7/2011

How far beyond its means is the federal government spending? Consider this:

The Republican budget plan presented by House Budget Committee Chairman Paul Ryan, R-Wisc., this week would spend $6.2 trillion less than President Obama’s budget does over the next decade. Democrats call that radical and destructive. And yet Ryan’s […]

Debt now equals total U.S. economy

Stephen Dinan The Washington Times 2/14/2011

President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five years’ time.

Amid the other staggering numbers in the budget Mr. Obama sent to Congress on Monday, […]

Quote of the day

“The economy that was losing jobs a year ago is creating jobs today. After the single biggest economic crisis in our lifetimes, we’re heading in the right direction. We’re moving forward. Our economy is stronger — that economic heartbeat is growing stronger. But I measure progress by a different pulse.”

President Barack H. […]

Bernanke says U.S. must start to rein in deficit

Sewell Chan The New York Times 4/14/2010

WASHINGTON — The Federal Reserve chairman said Wednesday that the government had to make “difficult choices” to address its gaping deficits and warned that “postponing them will only make them more difficult.”

The chairman, Ben S. Bernanke, said that a “credible plan” for reining in federal deficits could […]