Moody’s says U.S. tax cuts could prompt downgrade

[sabra]

Source: Reuters

SAO PAULO—Moody’s Monday said a tax and unemployment-benefit package agreed to by President Barack Obama and Republican leaders will increase the likelihood of a negative outlook on the U.S. AAA rating in the next two years.

The ratings agency said the package’s negative effects on government finances are likely to outweigh the positive effects from an expected positive impact on the country’s growth rate.

Read more: http://www.thestar.com/business/article/906081--moody-s-says-u-s-tax-cuts-could-prompt-downgrade

[sasha031]

1. ya think...

:smoke:

[Ruperto31]

3. Duh...huh?

[Pale Blue Dot]

2. This one act alone could destroy our economy.

It would take mere days. Maybe hours.

[54anickel]

4. Happened to Milwaukee County. Of course the downgrade came after the election and

the fool previously in charge of the County got elected to state governor.
:eyes:

[Lasher]

5. Let's see: Extend Bush tax cuts, Moody's downgrades, we gut our social programs to save the day.

Seems about right, what could be wrong with that?

[valerief]

6. Well, isn't that what our gummint wants? nt

[tomm2thumbs]

7. actions have consequences... /nt

[Roy Rolling]

8. Ironically....

Wall Street knows how bad the tax law is even if govenment denies it. Bond have already started their slide, the only way to absorb another $900 billion on the U.S. credit card is to raise interest rates/inflate the currency/downgrade U.S. debt. There is no free lunch, something's gotta give.

[aquart]

9. Exactly. The rich will not invest in the nation their greed destroyed.

Happy now?

[toddwv]

10. The right-wing's "starve the beast" agenda is nearly complete.

Get ready for an increase in the push to destroy the progressive gains that made this country a booming economic, scientific and innovative powerhouse for the better part of a century. The concentration of wealth into the hands of a few will accelerate and completely erode what's left of the American Dream as the middle class shrinks into oblivion.

Welcome to 3rd world America, soon to be known as "The Incorporated States of Jesusland" after a bit of "restructuring" after the collapse of the federal government.