Posted on 07/13/2011 2:41:49 PM PDT by kcvl
This is all nonsense. The best thing that could ever happen to the credit rating of the country would be for the debt limit not to be raised. It would tell the whole world that going forward, we will only be spending the money that comes in, and will not be going deeper into debt.
Look at it on an individual basis. Who is a better credit risk, a person who keeps going deeper and deeper into credit card debt, or a person who has debt, but is gradually paying it off?
America was downgraded when Obama got elected.
“This is just unbelievable.
Obama takes office, and 2 years later our nation is using the word “default”?”
We went from loaner to debtor under Reagan, so hard to tell what the impact of this will be, but probably won’t be good.
Who cares?! This is more of the mainstream hype. If we refused to raise the debt ceiling and began to cut spending pay down our debt we would be at the top of the ratings before long.
This could really put more pressure on Obama and the Senate Dems if the Repubs play their cards right:
Go for as many cuts as they can get- and stick the BBA in there- and pass it in the House and then amp up pressure on the “moderate” Dems in the Senate to pass it. (Most Americans won’t object to the BBA being part of it- they’ll support future restrictions on gov’t spending, and it doesn’t cut their benefits now, etc.). Obama could fold if it’s done properly, and late in the game.
If not, do a short-term extension for a smaller amount and call Obama’s bluff- let him veto it if he desires.
Is this the same Moody’s that didn’t rate Mortgage Backed Securities AAA and saw the financila crisis coming long before it hit ? /s
Moody’s playing along with obama. Is there any entity that isn’t corrupt?
financila = financial
Profound! That is worthy of a tagline!
I would bet anything that Obama & Company pressured and pushed for this.
Anything.
They want this so that they can say, "See? See what'll happen if you don't raise the ceiling?"
Day by day, we’re becoming more and more like Greece.
Thanks for not caring America. :)
Now pay your taxes, your government needs the money.
Downgraded on Obama’s watch.
Fitting.
On July 13, 2011, Moody’s placed the U.S. Government bond ratings on review for possible downgrade. Because of the large number of rating reviews resulting from this action, ratings appearing on this website may not yet reflect current information. For current information, please visit US Sovereign Rating page
“Obama Ends U.S. Travel Ban On Visitors, Immigrants With HIV-AIDS”
October 30, 2009 1:26 PM
Flood the US with....
AIDS (and other diseases)
illegals
Muslims
debt
unemployment
real, actual floods
Investors snapped up the $340.7 million CDO, a collection of securities backed by bonds, mortgages and other loans, within days of the Dec. 12, 2000, offering. The CDO buyers had assurances of its quality from the three leading credit rating companies --Standard & Poor's, Moody's Investors Service and Fitch Group Inc. Each had blessed most of the CDO with the highest rating, AAA or Aaa.
Moody’s Investors Service said Wednesday it has put the U.S. government’s top-notch credit rating on review for a possible downgrade because of the risk that Washington will not raise the federal debt ceiling in time to avoid a default.
The firm added that even a brief failure of the government to pay its bills would mean that the United States’s Aaa rating “would likely no longer be appropriate.”
The announcement comes after Standard & Poor’s, another of the major credit rating agencies, has said that it would dramatically downgrade the U.S. government’s credit rating if payments were missed.
The U.S. has long been able to borrow money cheaply because global investors believe the government can be counted on to repay its debts. If credit rating agencies downgrade the U.S. and investors lose their faith in the creditworthiness of the government, the cost of borrowing money — in other words, the interest rate — could rise.
The Treasury Department has said that on Aug. 2, it will run out of legal tools to meet the government’s financial obligations in the absence of an agreement to raise the $14.3 trillion legal limit on how much debt the government can maintain.
The Moody’s review is prompted by “the possibility that the debt limit will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes,” an announcement from the firm said Wednesday. “Moody’s considers the probability of a default on interest payments to be low but no longer to be de minimis.”
It added that an actual default, or failure by the federal government to pay its bills, “would fundamentally alter Moody’s assessment of the timeliness of future payments.”
“The vision for change comes from me,” Obama said after announcing his formation of a President’s Economic Advisory Board, modeled after former President Dwight Eisenhower’s intelligence advisory board.
“The old ways of thinking and the old ways of acting just won’t do.”
“Obama: I’m the one with vision of future”
Published: Nov. 26, 2008 at 11:29 AM
Moody’s also has placed on review several companies that enjoy implicit backing of the federal government, most notably the mortgage finance giants Fannie Mae and Freddie Mac.
A senior Treasury Department official pointed to the Moody’s announcement as evidence that Congress needs to act to raise the debt ceiling.
“Moody’s assessment is a timely reminder of the need for Congress to move quickly to avoid defaulting on the country’s obligations and agree upon a substantial deficit reduction package,” said Jeffrey A. Goldstein, the Treasury undersecretary for domestic finance, in a statement.
Coffee mugs and t shirts!
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