{"id":4997,"date":"2011-06-03T01:20:34","date_gmt":"2011-06-03T08:20:34","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=4997"},"modified":"2011-06-03T01:20:34","modified_gmt":"2011-06-03T08:20:34","slug":"us-credit-rating-in-jeopardy","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/06\/03\/us-credit-rating-in-jeopardy\/","title":{"rendered":"US Credit Rating in Jeopardy"},"content":{"rendered":"

As much as Democrats have tried to compromise with Republicans, giving far too much on far too many issues.  Democrats cannot be blamed for Republican refusals to compromise.  Most experienced Republican politicians know this is just a game, but Republicans managed to elect a plethora of unqualified candidates, who are too ignorant to recognize the danger.  By holding our creditworthiness hostage, Republicans are putting our credit rating in jeopardy.<\/font><\/p>\n

\n

\"3creditrating\"Moody\u2019s Investors Service warned Thursday that it might downgrade the United States government\u2019s sterling credit rating<\/a> if Congress did not increase the nation\u2019s debt limit \u201cin coming weeks,\u201d putting a spur to the sputtering talks between party leaders and the White House on a plan to restore fiscal stability. The warning, from one of the agencies whose assessments of creditworthiness help determine interest rates<\/a>, amounted to a stern reminder from Wall Street to Washington that global financial markets are watching the budget battle closely and that a standoff or brinkmanship could have economic consequences. <\/p>\n

Both sides seized on Moody\u2019s statement to reinforce their bargaining positions, with Republicans demanding that President Obama get more serious about deep spending cuts and Democrats saying that Republicans are risking a financial crisis in pursuit of an ideological agenda. <\/p>\n

Moody\u2019s said a review of the credit rating was \u201clikely\u201d in July<\/strong>, given that \u201cthe risk of continuing stalemate has grown.\u201d Its warning followed a similar one from another major ratings firm six weeks ago, and it came as the administration met Thursday with both House Republicans and Democrats in search of a deal. <\/p>\n

The treasury secretary, Timothy F. Geithner, met on Capitol Hill with House freshmen, including Republicans who have suggested that they see little or no risk in a showdown over the debt limit. Citing the Moody\u2019s statement, Mr. Geithner urged them to support raising it or risk an economic crisis. <\/p>\n

\u201cWe didn\u2019t create this mess,\u201d one Republican told Mr. Geithner, according to a person in the room. <\/p>\n

Independent analyses<\/a> have shown that more than half of the $14.3 trillion debt is from policies enacted during the past decade when Republicans controlled both the White House and Congress, and much of the rest from lost revenues and stimulus spending and tax cuts since Mr. Obama took office at the height of the financial crisis and recession<\/strong>\u2026 [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <NY Times<\/a>><\/p>\n

The debt is largely a Republican caused problem, so for Republican freshmen to say they are not responsible, while technically correct, is ludicrous, because they are pushing the same class warfare that caused this mess.  Hopefully their Banksters will bear some sense into them.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

As much as Democrats have tried to compromise with Republicans, giving far too much on far too many issues.  Democrats cannot be blamed for Republican refusals to compromise.  Most experienced Republican politicians know this is just a game, but Republicans managed to elect a plethora of unqualified candidates, who are too ignorant to recognize the […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4997","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/4997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=4997"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/4997\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=4997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=4997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=4997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}