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Moody's May Rate Treasuries AAA, But Central Planning Scores An F
Forbes ^ | 09/18/2012 | Bill Flax

Posted on 09/19/2012 3:59:35 AM PDT by billflax

Federal indebtedness recently surpassed $16 trillion. Moody’s quickly reiterated that America’s debt rating could be cut if Washington fails to navigate the approaching fiscal rapids. Can Congress keep the state ship afloat? They can’t even pass a budget. Meanwhile, with QE3, Ben Bernanke’s Fed cast credibility overboard by nakedly politicizing monetary policy.

Unfortunately, deficits and rate manipulation have muddled recovery. With currency no longer anchored to the certainty of gold and the Constitution no longer America’s political compass, Washington has led the economy adrift. Whatever Moody’s ultimately scores Treasuries the central planners are lost at sea.

Washington gets an F.

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TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: congress; economy; obama; taxes
The economy suffers from federal meddling.
1 posted on 09/19/2012 3:59:43 AM PDT by billflax
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To: billflax
Yep, I believe the government bonds will return every cent they contract to, but the buying power of the money returned will be a lot less.
2 posted on 09/19/2012 4:11:49 AM PDT by 2001convSVT (Going Galt as fast as I can.)
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