Dem Rep. Ellison: We Need To "Create A Real Crisis" To Raise Taxes...
Posted on 12/13/2010 5:20:20 PM PST by RobinMasters
Moody's warned Monday that it could move a step closer to cutting the U.S. Aaa rating if President Obama's tax and unemployment benefit package becomes law.
The plan agreed to by President Obama and Republican leaders last week could push up debt levels, increasing the likelihood of a negative outlook on the United States rating in the coming two years, the ratings agency said.
A negative outlook, if adopted, would make a rating cut more likely over the following 12-to-18 months.
For the United States, a loss of the top Aaa rating, reduce the appeal of U.S. Treasuries, which currently rank as among the world's safest investments.
"From a credit perspective, the negative effects on government finance are likely to outweigh the positive effects of higher economic growth," Moody's analyst Steven Hess said in a report sent late on Sunday.
After Obama announced his plan, Treasury prices fell sharply in volatile trade last week and yields have hit a six-month high, in part due to concerns over the effect the package will have on government debt levels.
(Excerpt) Read more at cnbc.com ...
obamanation has created a system which will destroy America, or at least seriously criple us for the next few generations. he should be tarred and feathered for his treason
pork,pork,pork,pork,pork
This begs the question, why hasn’t Moody’s not done this already? Makes me wonder what is truly behind this announcement, or who is behind it.
True indeed. But also, what does Moody’s know about politics?
If you raise taxes, as Moody’s apparently wants to do, Congress will just spend the money away. And we’ll be back where we started.
hopefully this will kickstart the Repubs into swift spending reductions
The list, ping
Let me know if you would like to be on or off the ping list
There is NO TAX CUT in the package. It’s Porkulus III.
It is actually a tax increase since the estate tax goes from 0 to 35%.
Good.
The people who count numbers know it will increase the deficit. It really is that simple.
Lemme guess— Soros control Moody’s too? And we, the peasants, are not allowed to have lower taxes?
Rating companies are part of the problem in that they do not have liability for the accuracy of their ratings with their subscribers. If they had to buy insurance to cover their predictions, IMO their behavior would be very different.
Moody’s will play right into oscumbag’s hand. oscumbag wants to increase our debt. Lowering our credit rating will make the interest on borrowing more expensive.
Nationalize the ratings agencies. They will give the STATE whatever rating we tell them too.
Just like the FNMA and FHLMC mortgage pools full of loans Barney Frank and the fed coerced them to make.
AAA
Anyone who believes anything Moody’s says or does is a complete idiot. They are in the tank for whoever pays them.
Dem Rep. Ellison: We Need To "Create A Real Crisis" To Raise Taxes...
YEP and the Republicans learned NOTHING in November. They used us! Dems, Repubs, all the same. I am beginning to really hate our government. Time for a change. Time to get out of here for a while and enjoy life.
You’re surprised?
This is why I couldn’t get all that excited about the Tea Party candidates. The clowns in DC were not going to let the unwashed masses elect people who the Party Hacks did not approve of. We saw that in a few races.
And in the cases where we great Unwashed Masses did elect someone who knows their ass from a warm rock, the party hacks are certainly not going to allow those people anywhere near actual power.
We’re long past the point where there’s a way to turn this situation around at the ballot box.
They are all of that, true.
But they’re also a day late and a dollar short, so to speak. During the crisis in 2008, they were *so* far behind events that they became laughable in their pronouncements, so much so that people started to ask “What purpose do these clowns serve at all any more?”
So now when the bond markets start making radical moves, the three big ratings agencies have to catch up to maintain their credibility with anyone who has a room temperature IQ.
They have no credibility in my book. let the buyer beware.
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