Moody's to lower US credit in 2013

Fox News | 12/8/2009 | self

[scooby321]

Stuart Varney was just on Fox and said Moody's will lower the United States bond rating for the first time ever in 2013 with current spending plans.

[ladyvet]

Gee, I wonder if we will hear the words...unexpected....surprising...from White House.

[c21sac]

2013 will be a different world, the US will probably be on COD. China will force us into BK and foreclose on the Whitehouse. I don't get it!

[RockinRight]

with current spending plans.

That's the money line, I think you're right.

[wmfights]

Now it is essentially 3 given we are on the cusp of 2010.

Great point. I think the point where they will actually lower the rating is when our debt exceeds our GDP. We are about 90% right now. Watch for increased pressure from other nations to move away from the dollar as a global currency.

[wmfights]

China will force us into BK and foreclose on the Whitehouse. I don't get it!

That is the last thing the developing nations want. They need us to buy their products and in China's case they hold a lot of US govt debt (Treasuries). If we declare bankruptcy they lose all that investment and the world economy goes down the tubes for at least a generation.

What the Chinese want to do is cripple us, forcing us to raise taxes to pay our debts. In raising taxes our economy will slow and in paying down debt our investment in defense and space will diminish. They plan to catch up to us as we slow down and then pass us as the world power.

[Freddd]

‘first time ever in 2013 with current spending plans.’

Another Fear headline to keep the masses nervous.

[TSgt]

It’s an easy fix! Just raise taxes and print more money! /sarc

[Oatka]

When it becomes apparent that 0 will lose, there will be a surprise BEFORE the 2012 election.

Indeed, better a martyr than a has-been.

[4Liberty]

Wait - isn’t “printed money” just more wealth?