Moody's: Neither debt plan protects the nation's AAA rating

[ItsTime]

http://thehill.com/blogs/on-the-money/801-economy/174447-moodys-neither-plan-protects-the-nations-aaa-rating


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."

[libertyjam]

Lmao

[ihsv]

$15,000,000,000,000 later and they finally come to a startling realization :rolleyes:

[wannaberocker]

Now that most leftist know that a downgrade is gonna happen. They are starting to say "well we never should have been AAA since bush took office". Heard this from a couple of leftist that i know.

[ItsTime]

Now that most leftist know that a downgrade is gonna happen. They are starting to say "well we never should have been AAA since bush took office". Heard this from a couple of leftist that i know.

Then you counter and now especially after Obama took office ;)

[FSP-Rebel]

w00t, finally the truth comes out!

[georgiaboy]

I saw this coming a mile away. The only way a ratings agency should continue with AAA is if we did what the tea party said we should do, and fast.

Way to go Moody's. Tea Party loss is a loss for the rating and the nation and the future, and the blood is all over the establishment's hands.

[ItsTime]

New deal in the works?

[MozoVote]

Maybe the ratings agencies are working at establishing some independent credibility again, after their awful self-serving advice during the Financial meltdown. :mad:

[Koz]

Go*da*n geniuses over there at Moody's.

[Unelected]

Remember, Moody's is owned by Berkshire Hathaway, Warren Buffet's conglomerate. That corpse is probably profiting off of the crisis him and his friends are manufacturing.

[Lucille]

Maybe the ratings agencies are working at establishing some independent credibility again, after their awful self-serving advice during the Financial meltdown. :mad:

More like quid pro quo.


True, investors also worry about the likelihood of a U.S. credit downgrade. This is not probable since the agencies are American and that would be rather unpatriotic given they got a pass on criminal charges for what they did (http://armstrongeconomics.files.wordpress.com/2011/07/armstrongeconomics-uncle-sam-dead-broke-073011.pdf) in the mortgage debacle.

“Everyone already knows that the U.S. has lost its AAA status,” Rogers said. “Anyone who knows what is going on, already knows that the U.S. is now the biggest debtor nation in the history of the world. It’s only S&P and Moody’s that haven’t figured out what is going on. The investment world knows that the U.S. is not AAA.”
--Jim Rogers (http://www.jrdeputyaccountant.com/2011/07/everyone-but-rating-agencies-knows-us.html)

[Freedom 4 all]

U.S. should have the same credit status as the idiot who actually has a good job but still goes to those predatory loan sharks like Money Mart because he insists on living beyond his means and wants a new boat/cottage that he does not need.