Moody's offers different view on debt limit
One of the nation’s top credit-rating agencies says that the U.S. Treasury Department is likely to continue paying interest on the government’s debt even if Congress fails to lift the limit on borrowing next week, preserving the nation’s sterling AAA credit rating.
In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.
Not so, Moody’s says in the memo dated Oct. 7.
The memo offers a starkly different view of the consequences of congressional inaction on the debt limit than is held by the White House, many policymakers and other financial analysts. During a press conference at the White House Tuesday, Obama said missing the Oct. 17 deadline would invite “economic chaos.”
- Whirlaway
- 10-09-2013, 02:06 PM
- LovingKayla
- 10-09-2013, 02:19 PM
Everything that came out of his mouth about our debt was dead wrong. All this means is we can no longer borrow money. We will be forced to balance the budget. How is that irrisponsible? I'm ready for the entire thing to come crashing down, but it won't be because we didn't raise the debt limit.
Gosh I remember Obama saying that raising the debt limit was the sign of a weak leader. (or something similar.) What exactly is different now besides a muzzie terrorist in the white house and them turning the US into upside down land.
You know how we like to call each other traitors? Well we are both right. democraps are traitors to our founding principles and we are traitors to this extremest muzzie government. You are damn straight on that.
Gosh I remember Obama saying that raising the debt limit was the sign of a weak leader. (or something similar.) What exactly is different now besides a muzzie terrorist in the white house and them turning the US into upside down land.
You know how we like to call each other traitors? Well we are both right. democraps are traitors to our founding principles and we are traitors to this extremest muzzie government. You are damn straight on that.
- timpage
- 10-09-2013, 04:43 PM
Oh, would that be the same Moody's that had AIG and Lehman Bros at AAA and AA until they collapsed?
Go fuck yourself Whirly.
Go fuck yourself Whirly.
- Guest123018-4
- 10-09-2013, 07:40 PM
It does not matter who is calling him a liar, it is still the truth, he is a liar.
- therock18
- 10-09-2013, 11:12 PM
Yep - Dumbama is a lying libtard!