THE WISE SHALL UNDERSTAND

America’s #1 Export Under Obama? DEBT!

| August 16, 2011

Biden to sell debt ceiling deal during trip to China, Japan

Vice President Biden will tout the debt ceiling deal during a trip to China and Japan, two holders of huge amounts of U.S. debt.

Biden will travel to top lender China on Wednesday and to Japan, the second-biggest holder of U.S. bonds, on Aug. 22. The vice president “will be in a good position to talk about the very strong deficit package that we concluded here recently,” Undersecterary of the Treasury Lael Brainard told reporters Monday in comments previewing the vice president’s visit.

The debt-ceiling deal signed by President Obama could cut up to $2.5 trillion from budget deficits over the next decade, but it was a smaller package than the grand bargain Obama flirted with striking.

Standard & Poor’s downgraded the nation’s AAA rating to AA+ a few days after Obama signed the legislation. S&P had called for a $4 trillion package, and said it was left uncertain that U.S. politicians could agree to a larger deficit-reduction package. source – The Hill

About the Author:

NTEB is run by end times author and editor-in-chief Geoffrey Grider. Geoffrey runs a successful web design company, and is a full-time minister of the gospel of the Lord Jesus Christ. In addition to running NOW THE END BEGINS, he hosts a twice-weekly bible study and prophecy radio show on BlogTalk Radio, and oversees a dynamic street preaching outreach and tract ministry team in Saint Augustine, FL.
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