Moody's to cut U.S. debt rating if budget talks fail

#3
#3
Gramps said:
The White House, House and Senate need to reslove this issue. Any real negotiations are not expected until after the November presidential elections.
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What makes you think even this is possible regardless of who is elected President? I certainly have lost hope.
 
#4
#4
PKT_VOL said:
What makes you think even this is possible regardless of who is elected President? I certainly have lost hope.
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Doesn't matter anyway a credit raising on US sovereigns is a waste of ink so long as we're still the world's reserve currency.

Credit rating cut last year and yields fell...
 
#5
#5
dukes_of_maggard said:
Doesn't matter anyway a credit raising on US sovereigns is a waste of ink so long as we're still the world's reserve currency.

Credit rating cut last year and yields fell...
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You certainly aren't asserting that we can continue down our current path though...right?
 
#6
#6
dukes_of_maggard said:
Doesn't matter anyway a credit raising on US sovereigns is a waste of ink so long as we're still the world's reserve currency.

Credit rating cut last year and yields fell...
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It's take for granted, but won't always be that way.

This is the issue of our day and were watching Washington **** it up
 
#9
#9
PKT_VOL said:
Eh, I wouldn't say it's empty news.

If so, it's a disheartening day in American when our credit being downgraded is considered "empty news".
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That wasn't a value judgement on my part, it's just true. The only time we've ever had our credit rating downgraded it had zero affect on demand for treasuries.

Don't confuse the symptoms with the disease, congressional deadlock is a problem but what Moody's (and S&P) think has proven to be insignificant.
 
#11
#11
dukes_of_maggard said:
That wasn't a value judgement on my part, it's just true. The only time we've ever had our credit rating downgraded it had zero affect on demand for treasuries.
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Sorry about that.

dukes_of_maggard said:
Don't confuse the symptoms with the disease, congressional deadlock is a problem but what Moody's (and S&P) think has proven to be insignificant.
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Let's be real, neither side wants to cut spending and make major reforms to most government programs/policies.
 
#16
#16
volinbham said:
Not unless voters demand it. Above all, politicians are about job preservation.
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I don't see them legitimately demanding it anytime soon.

Sure, they will support it in a vague sense. Deficits are bad!

However, the devil is in the details. That is when you will really see how strong or weak the American voters resolve is. I tend to think it is weak sauce.
 
#18
#18
PKT_VOL said:
I don't see them legitimately demanding it anytime soon.

Sure, they will support it in a vague sense. Deficits are bad!

However, the devil is in the details. That is when you will really see how strong or weak the American voters resolve is. I tend to think it is weak sauce.
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I agree - we get what we deserve. Politicians really do do our will unfortunately.
 
#19
#19
PKT_VOL said:
I don't see them legitimately demanding it anytime soon.

Sure, they will support it in a vague sense. Deficits are bad!

However, the devil is in the details. That is when you will really see how strong or weak the American voters resolve is. I tend to think it is weak sauce.
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well it doesn't help when 99% of the MSM is calling those protesting gov't spending as dumb racists
 
#20
#20
We have been down this road before. Just going off memory so I could be wrong, but I think Obama put pressure on the credit rating agencies to change the rating soon afterwards.
 
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