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Moody's: Neither debt plan protects the nation's AAA rating [ Well then Cut cut cut ]
thehill.com ^
| July 30 2011
| By Peter Schroeder - 07/29/11 05:11 PM ET
Posted on 07/30/2011 7:01:42 PM PDT by NoLibZone
The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday.
"Reductions of the magnitude now being proposed, if adopted, would likely lead Moody's to adopt a negative outlook on the AAA rating," the credit rating agency said in a new report. "The chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high."
It added that "prolonged debt ceiling deliberations" have increased the odds of a downgrade, but that the firm is still confident policymakers will avoid a default.
"It remains our expectation that the government will continue with timely debt service," the firm said. It also clarified that as far as it is concerned, the nation will only default if it misses an interest or principal payment on U.S. debt, not if it misses payments on other obligations like federal employee salaries or Social Security benefits.
(Excerpt) Read more at thehill.com ...
TOPICS: Business/Economy; Extended News
KEYWORDS: debt; lifeasnancyknows
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To: MontaniSemperLiberi
No, I can’t say I read your post, but I do read ZeroHedge.
I have been slowly learning what is really behind what is destroying this country and how the politicians aren’t in a position to fix it UNLESS they end the FED.
But, I will say, I do agree with your post and I am glad that others here know what is going on with our money, and the trouble we are really in.
Thanks! And great post!!!
21
posted on
07/30/2011 8:19:15 PM PDT
by
TruthConquers
(Delendae sunt publicae scholae)
To: NoLibZone
The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday.
Surely not a single FReeper is surprised by this.
22
posted on
07/30/2011 8:27:02 PM PDT
by
andyk
(Interstate != Intrastate)
Boop the Leaping Fish!
You dont have to jump through hoops
To support Free Republic
Can't donate monthly, but still want to give?
Sponsor one or more monthly donors for a one-time-only $10 each
FReepmail TheOldLady to find out how
23
posted on
07/30/2011 8:53:54 PM PDT
by
TheOldLady
(FReepmail me to get ON or OFF the ZOT LIGHTNING ping list.)
To: NoLibZone
"OUR KIDS MUST WIN", AMEN TO THAT.
That is the most important issue, we have to do this in spite of some of them being Obama lovers, they just have not lived long enough to know better or made any real money.
AAA rating, what HELL HOLE other country is better than our AAA AMERICAN??? They all still want to come here.
To: q_an_a
japan has a AA+ bond rating - did the markets meltdown forever and do they still make great products?
TRUE.
25
posted on
07/30/2011 9:25:05 PM PDT
by
TomasUSMC
( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
To: NoLibZone; All
DEFUND socialist collectives, foreign and domestic. Parasites collapse...we get solvent VERY FAST.
26
posted on
07/30/2011 10:27:45 PM PDT
by
PGalt
To: NoLibZone
Yes — the solution is REAL cuts and not the smoke and mirrors DC is famous. I will believe there are cuts when we see empty cubicles in FedGov alphabet agencies. Not before.
27
posted on
07/30/2011 10:29:44 PM PDT
by
MasterGunner01
(To err is human; to forgive is not our policy. -- SEAL Team SIX)
To: NoLibZone
Cut every budget item by 10% each year until the budget is balanced.
28
posted on
07/31/2011 9:27:04 AM PDT
by
expatpat
To: MontaniSemperLiberi; TruthConquers; scrabblehack
29
posted on
07/31/2011 1:57:39 PM PDT
by
4Liberty
(88% of Americans are NON-UNION. We value honest, peaceful Free trade-NOT protectionist CARTELS)
To: 4Liberty
YES!!!
And a budget deficit is a DEvalued dollar.
30
posted on
07/31/2011 4:18:07 PM PDT
by
TruthConquers
(Delendae sunt publicae scholae)
To: 4Liberty
Wouldn't you know it, I found two more charts!
31
posted on
07/31/2011 4:24:45 PM PDT
by
TruthConquers
(Delendae sunt publicae scholae)
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