US Debt crosses 16 Trillion ($16,OOO,OOO,OOO,OOOBAMA! )

[Abii]

oh man thumb up for if someone in trouble??
If something happens to US economy it effects to whole world!

That's the biggest bs in the history of the net. Countries with American and European banks running their nations will collapse (think GCC, some South American nations, Panama and other countries that have pegged their currency to the green back etc...). After a period of "wtf were we thinking" and "how the **** can we fix this ****" things will go back to normal. For other nations with no US dollar reserves or no ties to the so called American banks, things will even look better.

americans buy a lot from China and in the next 20 years, the Asian market will be bigger than the US mkt for China, no biggie. Americans don't sell anything that can't be made elsewhere. Somebody else will takeover and they'll be happy to. Chinese and other East Asian companies are just licking their fingers for the opportunity to take over.

 

[Snomannen]

I really love the title.

 

[Abii]

President Barack Obama: "I Am Pledging To Cut The Deficit We Inherited By Half By The End of My First Term"

"We can not and will not sustain deficits like these without end. Contrary to the prevailing wisdom in Washington these past few years, we can not simply spend as we please and defer the consequences to the next budget, the next administration or the next generation.

That's why today, I am pledging to cut the deficit we inherited by half by the end of my first term in office. This will not be easy - it will require us to make difficult decisions and face challenges we have long neglected but i refuse to leave our children with a debt they can not repay. And that means taking responsibility right now in this administration, for getting our spending under control."

President Barack Obama
February of 2009

"We are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

Senator Barack Obama (D-Ill)
Senate Floor Speech on Public Debt
March 16, 2006


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LOL

 

[Chinese-Dragon]

President Barack Obama: "I Am Pledging To Cut The Deficit We Inherited By Half By The End of My First Term"

Over half of the American trade deficit is to China.

And check out his tough action against us:

(From 25th of May, 2012).

Bloomberg - U.S. Treasury Declines to Name China Currency Manipulator

 

[Abdi-Karim Elmi]

Over half of the American trade deficit is to China.

And check out his tough action against us:

(From 25th of May, 2012).

Bloomberg - U.S. Treasury Declines to Name China Currency Manipulator

So China inherits the positions that America enjoyed for 60 years without blood shed? Cool