Skip to comments.Moody’s Text: To Downgrade US If No Deal To Cut Debt/GDP Ratio
Posted on 09/11/2012 9:54:40 AM PDT by RoosterRedux
The following is the text of a statement Tuesday by rating agency Moodys:
Budget negotiations during the 2013 Congressional legislative session will likely determine the direction of the US governments Aaa rating and negative outlook, says Moodys Investors Service in the report Update of the Outlook for the US Government Debt Rating.
If those negotiations lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term, the rating will likely be affirmed and the outlook returned to stable, says Moodys.
If those negotiations fail to produce such policies, however, Moodys would expect to lower the rating, probably to Aa1.
(Excerpt) Read more at forexlive.com ...
Axelrod picking up the phone in 3, 2, 1...
DOJ filing a lawsuit in 3, 2, 1...
what are we up to now? how many days without a budget?
The House has offered how many budgets now that Reid didn’t let pass the Senate?
Obama’s last budget he offered received how many votes in the Senate?
Nice chart - very nice.
I assume a downgrade will eventually lead to higher interest rates - credit constriction - more printing - and further devaluing of our currency...
Obama gets to preen and strut and blaspheme the Republicans for blocking the implementation of his plan to fundamentally transform the the economy into one in which no one has to work, there is no debt and everything is free with ice cream delivered nightly.
Don't step in the Unicorn Poop!
bump...so I can view on my cellphone. The company firewall blocked access to the URL serving the image.