I must have missed the part in the Constitution that gives Moody’s any say-so what-so-ever in our economic policy. All they need to worry about is that we pay our bills, and the only way we won’t is if Obama decides to waste the money elsewhere. In the meantime, kiss my grits Moody.
(Reuters) – The United States will likely keep its top-notch credit rating from Moody’s for now, despite the “limited magnitude” of the deficit reduction plans being discussed in Washington, the ratings agency said on Friday.
But Moody’s warned in a report that the confirmation of the Aaa credit will likely come with a negative outlook, meaning there is a risk of a downgrade in the medium term.
That decision will depend on the U.S. economic performance in 2012 and prospects for future deficit-reduction measures, Moody’s analyst Steven Hess said.
“If we’re convinced that the economy takes off in 2012 and shows very strong growth, that makes the whole process of fiscal consolidation somewhat easier,” Hess told Reuters in an interview.