Schedule the IMF riot for April
Posted by Charles II on December 14, 2010
David Jolly and Catherine Rampell
The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts.
That sobering assessment, issued Monday by Moody’s Investors Service, provided a reminder that even Aaa-rated United States Treasury bonds, supposedly the safest of safe investments, could be downgraded one day if Washington failed to manage the federal debt.
This threat to downgrade US debt, which would cause rising interest rates and a drop in growth, comes because of the reckless, unproductive tax cuts now being passed even by people we think of as progressive, like Al Franken.
The threat of a drop in ratings will next “force” Obama to accept cuts in social services that benefit the middle class and poor. Schedule the IMF riot for April.
2 Responses to “Schedule the IMF riot for April”
Sorry, the comment form is closed at this time.
Phoenix Woman said
Yup. That’s why the lame-duckers, if they’re smart, try to use extending the debt ceiling as a bargaining chip for their support in backing the tax sellout.
jo6pac said
Yep, I already have on my schedule of things to watch out for. I know a few others that are going to be watching this closely. Yes, it will be the beginning of defunding or just straight cuts across the board for the little people.
I do have 2 questions, why is moody still in business and why would any one still believe anything they say?