China's Dagong Ratings Agency Has Downgraded The US

[FarCenter]

China's credit rating agency Dagong has downgraded the U.S. rating from A to A-.

"The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and GDP remains unchanged," they warned after President Obama signed a deal to end the government shutdown and raise the debt ceiling.

"For a long time the U.S. government maintains its solvency by repaying its old debts through raising new debts, which constantly aggravates the vulnerability of the federal government’s solvency. Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future."



Read more: http://www.businessinsider.com/dagong-downgrades-us-to-a--2013-10

[Laelth]

1. k&r for exposure. n/t

-Laelth

[malaise]

2. To be truthful

I did not know China had a ratings agency

[MineralMan]

3. Da Gong...We Haz It.

[FarCenter]

4. I've watched CSPAN -- Congress needs this.