China, the largest foreign holder of US debt, demanded that America tighten its belt and confront its "addiction to debts" in the wake of Standard & Poor's decision to downgrade the US credit rating. China currently owns US$1.2 trillion of US Treasury debt, the largest stake of any central bank. The commentary carried by the state-run Xinhua News Agency was Beijing's first official response to the S&P decision. "The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," Xinhua said. It said the rating cut would be followed by more "devastating credit rating cuts" and global financial turbulence if the US fails to learn to "live within its means." http://www.nzherald.co.nz/economy/news/article.cfm?c_id=34&objectid=10743533 So you have to end Social Security? So you have to balance your budget and deal with riots in the streets?