Friday, June 10, 2011

China Official: It's Too Late, U.S. Already 'Defaulting'


As lawmakers scramble to cut a budget deal and avoid defaulting on U.S. debt, the head of a top Chinese rating agency claims it's too late. 
Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., reportedly told state media that the United States has already defaulted by letting the U.S. dollar weaken. 
"In our opinion, the United States has already been defaulting," Guan was quoted as saying, according to AFP. 
China, likewise, has long come under criticism for allowing its currency to weaken. But while Dagong Global is known for being tough on the U.S., Guan's words carry extra sting as they follow warnings from three top rating agencies about U.S. finances. 
Bailey: Thanks to Obama and the Democrats!


Read more: http://www.foxnews.com/politics/2011/06/10/china-official-its-too-late-us-already-defaulting/#ixzz1OtrMVeh1

True or False?


Obama holds big 2012 lead over Republicans

WASHINGTON (Reuters) – President Barack Obama retains a big lead over possible Republican rivals in the 2012 election despite anxiety about the economy and the country's future, according to a Reuters/Ipsos poll on Wednesday.
Obama's approval rating inched up 1 percentage point from May to 50 percent but the number of Americans who believe the country is on the wrong track also rose as pricier gasoline, persistently high unemployment and a weak housing market chipped away at public confidence.
Obama leads all potential Republican challengers by double-digit margins, the poll showed. He is ahead of his closest Republican rival, former Massachusetts governor Mitt Romney, by 13 percentage points -- 51 percent to 38 percent.
"Obama's position has gotten a little stronger over the last couple of months as the public mood has evened out, and as an incumbent he has some big advantages over his rivals," Ipsos pollster Cliff Young said.
Bailey: If this poll is true then this country is in real bad trouble. If there are this many Americans that think Obama's doing a good job, then America is full of stupid ass people!

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