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Moody's To US: Don't Skimp On Deficit Cuts, Or Else By Reuters Moody's Investors Service Wednesday warned that its top credit rating for the United States could be in jeopardy if lawmakers backtrack on $1.2 trillion in deficit cuts planned over 10 years. The ratings firm said the failure of a U.S. congressional committee to reach an agreement on deficit reduction did not affect the Aaa rating, but any pullback from agreed automatic cuts to take effect starting in 2013 could prompt it to take action. "While a change in the composition of the spending cuts would not be a...

Note: The following text is a quote: Remarks as Prepared for Associate Attorney General Tom Perrelli at Recovery Act Press Event in Detroit Detroit, Mich. Tuesday, June 2, 2009 Hello everyone – and thank you Mayor Bing for inviting me to visit with you today and to share with you – and the people of Detroit – what the Obama Administration is doing to help support communities affected by this week’s GM news. My name is Tom Perrelli and I serve as the Associate Attorney General, the third-ranking official in the Department of Justice. That position gives me oversight over...