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WASHINGTON (MNI) – The following is the text of a statement Tuesday
by rating agency Moody’s:
Budget negotiations during the 2013 Congressional legislative
session will likely determine the direction of the US government’s Aaa
rating and negative outlook, says Moody’s Investors Service in the
report “Update of the Outlook for the US Government Debt Rating.”
If those negotiations lead to specific policies that produce a
stabilization and then downward trend in the ratio of federal debt to
GDP over the medium term, the rating will likely be affirmed and the
outlook returned to stable, says Moody’s.
Credit rating agency Standard & Poor's (S&P) downgraded its credit rating of the U.S. federal government from AAA (outstanding) to AA+ (excellent) on August 5, 2011.
This was the first time the government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
The downgrade was criticized by the U.S. Treasury Department, both Democratic and Republican Party political figures, and many businessmen and economists.
Both Fitch Ratings and Moody's, designated like S&P as nationally recognized statistical rating organizations (NRSRO) by the U.S. Securities and Exchange Commission, retained the U.S.'s triple-A rating. Moody's, however, changed its outlook to negative on June 2, 2011 and Fitch changed its outlook to negative on November 28, 2011.
Originally posted by RealSpoke
And yet Romney's plan is to increase military spending.
Originally posted by Evil_Santa
reply to post by OccamsRazor04
So... You want to carve up the US, and sell different states to other countries, then outsource all of our government to China and India? That's what Romney has the most experience doing.