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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.Moody's Threatens to Downgrade US if Debt Ceiling not Raised
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.Moody's Threatens to Downgrade US if Debt Ceiling not Raised
When you think of it, why would the credit rating be downgraded if the country is less in debt?
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.Moody's Threatens to Downgrade US if Debt Ceiling not Raised
When you think of it, why would the credit rating be downgraded if the country is less in debt?
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.
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.
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.
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.
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.
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.
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.
Yeah, I know. But dude, historically we'ce always spent around 19-20% of GDP, but now it's up near 25%. Spending has got to be reduced, and it's the dems who are fighting that tooth and nail.
It's like the Dems are addicted to spending and always using the credit card. They can't stop because that's how they always get elected by telling their constituents what they are going to do for them with new spending programs.
We have to cut up that credit card.
It's like the Dems are addicted to spending and always using the credit card. They can't stop because that's how they always get elected by telling their constituents what they are going to do for them with new spending programs.
We have to cut up that credit card.
Not to mention the $1.3 Trillion tax cut that was never paid for, plus the multi-Trillion shock and awe that was never paid for.
New York, June 02, 2011 -- Moody's Investors Service said today that if there is no progress on increasing the statutory debt limit in coming weeks, it expects to place the US government's rating under review for possible downgrade, due to the very small but rising risk of a short-lived default. If the debt limit is raised and default avoided, the Aaa rating will be maintained. However, the rating outlook will depend on the outcome of negotiations on deficit reduction. A credible agreement on substantial deficit reduction would support a continued stable outlook; lack of such an agreement could prompt Moody's to change its outlook to negative on the Aaa rating.
Although Moody's fully expected political wrangling prior to an increase in the statutory debt limit, the degree of entrenchment into conflicting positions has exceeded expectations. The heightened polarization over the debt limit has increased the odds of a short-lived default. If this situation remains unchanged in coming weeks, Moody's will place the rating under review.
Moody's had previously indicated that its stable outlook on the Aaa rating was based on the assumption that meaningful progress would be made within the next eighteen months in adopting measures to reverse the country's upward debt trajectory. The debt limit negotiations represent a real near-term opportunity for agreement on a plan for fiscal consolidation. If this current opportunity passes, Moody's believes that the likelihood of anything significant being accomplished before the next presidential election is reduced, in part because the two parties each hopes to capture both a congressional majority and the presidency in the 2012 election, after which the winning party could achieve its own agenda. Therefore, failure to reach an agreement as part of the current negotiations would increase the likelihood of a negative outlook in the near term, because the upward debt trajectory would still be in place. At present, this appears the most likely outcome, in Moody's opinion. ...