Posted on 12/07/2010 12:19:45 PM PST by Abathar
* Moody's: long-term US credit worries not being addressed
* Risk is tax cuts extended again in 2 years
* Moody's sees no change in US ratings in 18-24 months
NEW YORK, Dec 7 (Reuters) - Moody's Investors Service is worried the extension of U.S. tax cuts agreed by President Barack Obama and Republican leaders could become permanent, hurting U.S. finances and its credit ratings in the long run.
Steven Hess, Moody's lead sovereign analyst for the United States, said on Tuesday doesn't foresee any change in the U.S. AAA ratings in the next 18 months to two years. He is, however, concerned about "what's going to happen in two years," when the extensions are set to expire again.
"The timing two years from now will be very complicated from a political point of view, with presidential elections in November 2012," Hess told Reuters in an interview.
"So we don't know if this is going to be extended again, or partially extended again," he said, noting that the tax cuts, while expected to provide an immediate "growth uptick", will hurt the country's fiscal position in the long run.
I’m worried the UI extensions will become permanent.
Gee, ya think Moody’s would have their panties in less of a twist if Congress would CUT SPENDING? Gee, what a novel idea.
Ya think Moody’s is staffed by a bunch of Manhattanites?
I’m worried about the same thing, because the present tax rates need to be lower.
Moody’s isn’t the least bit credible at anything, as far as I can tell.
Instead of worring about people keeping their own money why doesn’t Moody’s worry about the unsustainable government spending and the printing of $$$$ it has been doing? This article is pure garbage written by some sorry *** liberal mad at Obama.
The us government has got the country in a mess.States should opt out.
These tax cuts shouldn't become permanent.
Bigger...Better...and More tax cuts should become permanent!
Very soon, the National Debt will reach 90% of our GDP. That will mean 90% of all tax money will go out as interest on Money the Government has borrowed
Same Moody’s that assigned AAA ratings to California Bonds and Subprime MBSs? What the heck are they worried about.
You are just suspicious because they gave those worthless bundles of Fannie and Freddie mortgages a AAA rating. Just because they did that doesn't mean they would again front for those who support other economoic suicide pacts. :-)
You are just suspicious because they gave those worthless bundles of Fannie and Freddie mortgages a AAA rating. Just because they did that doesn't mean they would again front for those who support other economoic suicide pacts. :-)
Why don’t they worry about insane levels of spending becoming permanent?
“Same Moody’s that assigned AAA ratings to California Bonds and Subprime MBSs?”
I want to know what they received to give a AAA rating to these pieces of excrement?
The tax cuts won't become permanent any time soon and those tax cuts are probably the only thing keeping the economy afloat.
Progressivism has rotted just about everything these days.
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