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This past Friday, Standard and Poor's downgraded the U.S. debt from AAA+ to AA+ with a negative outlook.
What makes the situation all the more distressing, is that neither party seems to be interested in dealing with one of the prime contributors to the US slow economy...China.
"China, after all, maintains predatory policies designed to take advantage of America's open economy. So, for instance, the Chinese central government fixes the value of the renminbi at an artificially low level to stimulate Chinese exports and impede imports.
It has alos been systematically violating its World Trade Organization obligations, especiallly by blocking imports. The resut of these policies is that China has persistently run large merchandise-trade surpluses against the United States.
Last year, for instance, that surplus amounted to $273.1 billion, the largest defict the US has ever had with any country."http://news.yahoo.com/obama-cant-word-china-210114302.html
