taft2012
09-12-2012, 06:36 AM
http://finance.yahoo.com/news/moodys-set-downgrade-us-without-131823433.html
NEW YORK (AP) -- The U.S. government's debt rating could be heading for the "fiscal cliff" along with the federal budget.
Moody's Investors Service on Tuesday said it would likely cut its "Aaa" rating on U.S. government debt, probably by one notch, if budget negotiations fail.
If Congress and the White House don't reach a budget deal, about $1.2 trillion in spending cuts and tax increases will automatically kick in starting Jan. 2, a scenario that's been dubbed the "fiscal cliff," because it is likely to send the economy back into recession and drive up unemployment.
Consider how much we're spending to pay the interest on our national debt, and how much a jump from only 1% to 2% on interest rates will affect us.
The end is in sight. Obama has nearly completed his job of destroying the country he hates.
NEW YORK (AP) -- The U.S. government's debt rating could be heading for the "fiscal cliff" along with the federal budget.
Moody's Investors Service on Tuesday said it would likely cut its "Aaa" rating on U.S. government debt, probably by one notch, if budget negotiations fail.
If Congress and the White House don't reach a budget deal, about $1.2 trillion in spending cuts and tax increases will automatically kick in starting Jan. 2, a scenario that's been dubbed the "fiscal cliff," because it is likely to send the economy back into recession and drive up unemployment.
Consider how much we're spending to pay the interest on our national debt, and how much a jump from only 1% to 2% on interest rates will affect us.
The end is in sight. Obama has nearly completed his job of destroying the country he hates.