Moody's downgrades US credit rating

T. A. Gardner

T. A. Gardner

Thread Killer
Well, thanks to profligate spending, particularly by the last three presidents, Moody's is downgrading the US credit rating from AAA to Aa1.


www.pbs.org

Moody's strips U.S. government of top credit rating over failure to rein in debt

Moody’s is the last of the three major rating agencies to lower the federal government’s credit. Standard & Poor’s downgraded federal debt in 2011 and Fitch Ratings followed in 2023.
www.pbs.org www.pbs.org

The Republicans in Congress want to get rid of many Biden and Obama tax credits and breaks especially for things like climate change and green initiatives, along with federal support for expanded Medicare (Obama via Obamacare). On that last one, the chickens have come home to roost, so-to-speak.

The Democrats oppose all of that and want instead to raise taxes, particularly on "The Rich."
 
T. A. Gardner said:
Well, thanks to profligate spending, particularly by the last three presidents, Moody's is downgrading the US credit rating from AAA to Aa1.


www.pbs.org

Moody's strips U.S. government of top credit rating over failure to rein in debt

Moody’s is the last of the three major rating agencies to lower the federal government’s credit. Standard & Poor’s downgraded federal debt in 2011 and Fitch Ratings followed in 2023.
www.pbs.org www.pbs.org

The Republicans in Congress want to get rid of many Biden and Obama tax credits and breaks especially for things like climate change and green initiatives, along with federal support for expanded Medicare (Obama via Obamacare). On that last one, the chickens have come home to roost, so-to-speak.

The Democrats oppose all of that and want instead to raise taxes, particularly on "The Rich."
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^^^
Another MAGAt who doesn't read his own links. Sad.

In a statement, Moody’s said: “We expect federal deficits to widen, reaching nearly 9% of (the U.S. economy) by 2035, up from 6.4% in 2024, driven mainly by increased interest payments on debt, rising entitlement spending, and relatively low revenue generation.”

Extending President Donald Trump’s 2017 tax cuts, a priority of the Republican-controlled Congress, Moody’s said, would add $4 trillion over the next decade to the federal primary deficit (which does not include interest payments).
 
Dutch Uncle said:
^^^
Another MAGAt who doesn't read his own links. Sad.

In a statement, Moody’s said: “We expect federal deficits to widen, reaching nearly 9% of (the U.S. economy) by 2035, up from 6.4% in 2024, driven mainly by increased interest payments on debt, rising entitlement spending, and relatively low revenue generation.”

Extending President Donald Trump’s 2017 tax cuts, a priority of the Republican-controlled Congress, Moody’s said, would add $4 trillion over the next decade to the federal primary deficit (which does not include interest payments).
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If all Congress did was extend those tax cuts. If the Republicans got rid of all the incentives and tax breaks for greentard shit, along with other nonsense, they could close that gap. In addition, if they cut government heavily--as Trump is trying to do--again those tax breaks won't have the effect Moody's thinks they will.

Right now, the argument in Congress is Democrats not wanting to cut anything while raising taxes on everything. This is also known as the "Blue state model." The Republicans want to cut a bunch of stuff and either keep taxes the same or lower them.
 
T. A. Gardner said:
If all Congress did was extend those tax cuts. If the Republicans got rid of all the incentives and tax breaks for greentard shit, along with other nonsense, they could close that gap. In addition, if they cut government heavily--as Trump is trying to do--again those tax breaks won't have the effect Moody's thinks they will.

Right now, the argument in Congress is Democrats not wanting to cut anything while raising taxes on everything. This is also known as the "Blue state model." The Republicans want to cut a bunch of stuff and either keep taxes the same or lower them.
Click to expand...
QED

Cites the Moody link, blames the Democrats then claims Moody is wrong when he failed to read far enough down the link. LOL
 
T. A. Gardner said:
I blamed both parties, you illiterate retard.
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Yeah, DU, while having the same initials as my Alma Mater, isn't quite as smart or funny as he thinks he is. He demonstrates it in "gotcha" posts where he quotes something where you say something he agrees with and then argues against the part you agree with him on.
 
The best thing that could happen in this situation, for the sake of the common American people, is that our credit rating goes to junk bond level, and no one in the world will give U.S. any more money on credit.

This would force America to end the deficit spending, and live within its means.

-
 
Damocles said:
Yeah, DU, while having the same initials as my Alma Mater, isn't quite as smart or funny as he thinks he is. He demonstrates it in "gotcha" posts where he quotes something where you say something he agrees with and then argues against the part you agree with him on.
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Your anger with me is interesting, but explains a lot, Damo.
 
Kurmugeon said:
The best thing that could happen in this situation, for the sake of the common American people, is that our credit rating goes to junk bond level, and no one in the world will give U.S. any more money on credit.

This would force America to end the deficit spending, and live within its means.

-
Click to expand...
lol. No it wouldn't. They would just print more, inflate the currency, and collapse the whole thing.
 
Damocles said:
What you should do now is post some meme that has no basis in reality and therefore has nothing to make it funny. That will really cement how "zany" you really are.
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LOL Thanks for that. It's funny how you only say things like that to me and never to Legina or her army of socks or other MAGAts like Stone and the MAGA grin emoji.

That's how I can tell the bias, Damo. It's not always what you do but also what you never do.
 
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