NEW YORK (CNNMoney) – The public pressure on lawmakers to raise the debt ceiling was ratcheted up Wednesday when a major rating agency said it would put the sterling bond rating of the United States on review for possible downgrade.
Moody's Investors Services said it had initiated the review because of "the rising possibility" that Congress will fail to raise the debt ceiling in time - something that could lead to a U.S. default on its debt.
Nice work, Republicans. Keep screwing around and wreck our country's credit rating, why don't ya?
This sounds like a great way to create jobs in America
I guess the 08 recession that the GOP – under their puppet leader Bush – caused didn't decimate the middle class enough for their corporate masters, now they are going to cause even more financial turmoil all in an effort to privatize medicare and social security so their contributors will make more money.
I think part of this problem is the 24/7 news cycle. If these jerks weren't getting airtime all the time, they wouldn't be painting themselves into a corner. Some of the ones making the most noise would not have even been asked a question 20 years ago. Too much crap put on just for ratings.
Nice going, GOP/Teahadists! Thanks for ruining our credit rating!
Are you going to crash the economy Mr. President? Or are you going to continue the childish games. Continued massive spending is no longer an option.
From Sen. Obama’s Floor Speech, March 20, 2006:
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
Wow – guess once interest rates go up, taxes will have to be raised. Deal with it republicans - you all voted 7 times in 8 years to raise it to pay for whatever, but YOU won't raise it now that the payments are due on TWO UNFUNDED WARS, TAX CUTS FOR THE WEALTHY, AND MEDICARE PART D (those were "charged" (borrowed) a long long long time ago).
You want President Obama to be one-term? NO WAY. There's not a sane person in YOUR party to replace him.
S&P's reason: Relative to its peers, the United States has "very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us."
Probably Standard and Poors knows there aren't enough billionaires to tax our way out of this anymore and Democrats have another 1 1/2 years to fight all spending cuts.
We've heard you Tea-baggers, and we won't forget.
Come November 2012 the House Tea-baggers WILL be voted out, and a few wacko republicans that went along with you.
Think you're safe in the Senate? I can remember this for 4 years!!
The Republicans move us just a little bit closer to economic nihilism!
Hey Billy, exactly when do you hold this inept President responsible for our economy...he's been in the job for almost 3 years...too soon now?
At least Cantor's bet on the bond markets will pay off. The GOBP is a bunch of un-American cultists hellbent on destroying America if the rest of us refuse to bow down to their twisted vision where the poor and middle class make all the sacrifices and the wealthy rule us in near feudalism.
I'm all for fiscal integrity, but . . . weren't House Republicans (among others) fine with raising the debt ceiling 7 times, during the Bush Administration? Some sources estimate that at least a quarter of House Republicans actually hope the Government shuts down. Seems to me, they're just playing "useful idiots" to oligarchs who want to keep their mega-taxcuts.
One of these days Democrats will understand that you have to put a stop to irresponsible spending. The common household knows that to buy nice things, you usually have to cut spending elsewhere. Under Bush, you'd hear Democrats railing on about budget and spending, but now? Well, they put their principals away when it would make their President look bad. It's the same old Democrat double standard at work.
Funny how the intelligent, thinking party got this months ago.
Meanwhile the low-information party – that lauds intellectual lightweights like Palin & Bachmann & Dubya as Presidential material – has screamed that there is no jeapardy to the economy on August 2nd.
Independent voters – make a note and refer to it in November 2012.
Does the Moody's Investors Services have no financial nor moral compass to up-grade or down- grade the defaulters. Its under your watch this economy went down the toilet and all of a sudden you have become financial geniuses?