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Following Henry Kissinger's recent trip to China where the former Secretary of State fawned all over Chinese leaders and even joined in singing the Communist Party's anthem, Vice-President Joe Biden visited the communist-controlled giant while Mr. Obama was vacationing in Martha's Vineyard, Massachusetts.
After assuring Chinese leaders of his approval of their barbarous one-child-per-family policy, he got around to his main purpose: convincing the Chinese that purchasing U.S. bonds remains a good investment. The Vice President's trip came only days after Standard and Poor's downgraded America's credit rating from AAA to AA+.
The change marked the first time since such ratings have been issued that the U.S. was given a less-than-AAA score. China is the largest holder of U.S. indebtedness, a precarious position for America to be in. Columnist Patrick Buchanan commented about the loss of confidence in U.S. bonds by noting that the slide has been going on for a long time, stating, "As for the S and P downgrade, the only surprise is that it didn't come sooner."
Brent Donaldson
Beecher City, IL
Following Henry Kissinger's recent trip to China where the former Secretary of State fawned all over Chinese leaders and even joined in singing the Communist Party's anthem, Vice-President Joe Biden visited the communist-controlled giant while Mr. Obama was vacationing in Martha's Vineyard, Massachusetts.
After assuring Chinese leaders of his approval of their barbarous one-child-per-family policy, he got around to his main purpose: convincing the Chinese that purchasing U.S. bonds remains a good investment. The Vice President's trip came only days after Standard and Poor's downgraded America's credit rating from AAA to AA+.
The change marked the first time since such ratings have been issued that the U.S. was given a less-than-AAA score. China is the largest holder of U.S. indebtedness, a precarious position for America to be in. Columnist Patrick Buchanan commented about the loss of confidence in U.S. bonds by noting that the slide has been going on for a long time, stating, "As for the S and P downgrade, the only surprise is that it didn't come sooner."
Brent Donaldson
Beecher City, IL
