President Obama talks about " both parties working together" and mentions a "larger plan". However, it has become clear that President Obama HAS no plan. I don't think President Obama has a clue when it comes to the nations economy. He shows no leadership now or during the debt crisis. It's not the credit rating that worries me..it's the spender(Obama) that will reflect the failure of the government. The Peter principle..good senator bad president.
China tells U.S. 'good old days' of borrowing are over
China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the "good old days" of borrowing were over. Standard & Poor's cut the U.S. long-term credit rating from top-tier AAA by a notch to AA-plus on Friday over concerns about the nation's budget deficits and climbing debt burden. China -- the United States' biggest creditor -- said Washington only had itself to blame for its plight and called for a new stable global reserve currency. "The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way ... (full story)