There have been many reactions to S & Ps action in downgrading the credit rating of the US, Apart from the widespread annoyance and repudiation of S & P and its procedures, there are some who are saying that it won't have much effect on interest rates. Others even saying that it more »
Last December, my friend, beowulf, had this to say at the time Moody's began to make noises about downgrading US debt. He said:
”I don’t think we’ll see Moody’s or any other rating service based in the US ever downgrade US Treasuries. It would cause a tremendous amount of financial loss and would leave Moody’s and its executives exposed to criminal prosecution. more »
correntewire.com — The headline progressives are in full retreat. They have found out the hard way that their bleeding heart pleadings -- 'yes, the financial markets might destroy us, but how can we cut this or that worthy cause' -- don't cut it. They have fallen into the out of paradigm world that takes it as gospel that the U.S. is at imminent risk of becoming . .
This week was chock full of GOP Senators ignoring or actively distorting the truth about Social Security. Senator Orrin Hatch (R-UT), ranking member on the Senate Finance Committee, made his own disingenuous contribution to the volumes of conservative misinformation about the program at a Committee hearing on Tuesday.
(Author's Note: In December I posted a piece on Moody's threat to downgrade the US's Rating in International Bond markets. I argued that Moody's action was foolish. more »
Third Way's Social Security reform proposal deserves to be judged on its merits. But the outright lies its leaders are spreading about the position of progressive groups on Social Security do not. Plugging their reform proposal in Politico, Third Way's Jim Kessler and David Kendall claim that progressives are denying that Social Security has any problem at all. This is patently false. There is not one progressive group that denies Social Security will face a modest shortfall in 26 years. In fact, thus far, at least four progressive figures or groups have put forward their plans for filling this shortfall. more »
Yesterday, as reported in Money News, Moody's made me laugh, with the following pronouncements:
” . . . it could move a step closer to cutting the U.S. Aaa rating if President Barack Obama's tax and unemployment benefit package becomes law. . . . more »
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