Moody's Threatens to Downgrade US if Debt Ceiling not Raised

Discussion in 'Economy' started by Toro, Jun 2, 2011.

  1. Toro
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    Toro Diamond Member

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    Breaking
     
  2. Annie
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    Annie Diamond Member

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    What about a budget?
     
  3. Annie
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    Annie Diamond Member

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  4. signelect
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    signelect BANNED

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    Yea I hope for change in 2012 NOBAMA What a mistake this country made.
     
  5. expat_panama
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    expat_panama Silver Member

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    That's what the spending left says. The WSJ reports here that Steven Hess, senior credit officer of the Sovereign Risk Group at Moody's Investors Service says "the U.S. could be in danger of losing its top-notch credit rating if the fight in Congress over the country's debt limits causes it to miss an interest payment on its debt." For all Moody's cares congress could lower the damn ceiling as long as payments are made on time.

    When you think of it, why would the credit rating be downgraded if the country is less in debt?
     
  6. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Annie's link said they would review the US credit rating, not necessarily downgrade it. I have been under the impression that even the GOP knows it has to raise the debt ceiling, it's just a question of when they do it and what they get Obama and the Dems to agree to in the way of spending cuts. So it's gonna get done, what I'm wondering is if somebody inthe Obama admin has talked to somebody at Moody's and applied a little pressure for them to say something. Or maybe somebody at Moody's took it on themselves to get in the poltical game. Could be a silver lining for this to the Repubs, if it makes the TPers a little nervous and they back off a little bit. Not the hard core ones, but some of the more moderate ones. And yes, there are a few moderate TPers out there.
     
    Last edited: Jun 2, 2011
  7. editec
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    editec Mr. Forgot-it-All

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    It would not be in less debt.

    It would be in default of payment of debts.
     
  8. signelect
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    signelect BANNED

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    We have a lot of middle age rich people in congress that don't understand that you can't spend more than you make. How hard is it. When your living high on the govt payroll for you and your family and then factor in the lobbyist why should they care about the rest of us.
     
  9. Toro
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    Toro Diamond Member

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    The headline came from my Bloomberg. I didn't realize Bloomberg was the spending left. You learn something new everyday.
     
  10. Toro
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    Toro Diamond Member

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    It's a failure of politics, not one particular party. Anyone who thinks it's just one side causing this is a partisan ideologue with their head up their ass.
     
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