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02 Jun 2011 15:45

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Biz, U.S.: Moody’s threatens U.S. credit rating downgrade over debt crisis

  • Full faith and credit: Moody’s Investors Service warns that a failure by the U.S. Congress to come to an agreement on raising the debt limit could imperil the country’s AAA credit rating: “The heightened polarization over the debt limit has increased the odds of a short-lived default. If this situation remains unchanged in coming weeks, Moody’s will place the rating under review.” You may remember a similar warning from Standard and Poor’s last April — it’s becoming increasingly clear that the debt limit struggle, in addition to the gaping chasm between what Democrats and Republicans would care to do on spending and deficit issues (such a chasm usually means gridlock), is causing angst for financial agencies. source
Posted by Chris Tognotti • 0 Comments • Permalink

16 May 2011 23:20

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U.S.: Influential conservative says failing to raise debt limit bad

  • The full consequences of a default — or even the serious prospect of default — by the United States are impossible to predict and awesome to contemplate. […] The Nation can ill afford to allow such a result. The risks, the costs, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns.
  • Ronald Reagan, circa 1983 • Regarding legislation to raise the debt limit. This guy seems like a flaming liberal, doesn’t he? Oh wait, maybe not. source
Posted by Seth Millstein • 0 Comments • Permalink
 
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