Moody’s May Downgrade US–Becomes White House Ally
June 2, 2011 by Douglas A. McIntyreMoody’s threatened to downgrade America’s sovereign debt primarily because the Democrats and Republicans cannot settle on a compromise to increase the debt cap. The action will probably add pressure to House Republicans who are seen by the public, whether correctly or not, as the aggressors in the debate. Republicans have called for massive budget cuts to steady the deficit increase and part of those plans may involve a retooling of Medicare,, a very unpopular idea among citizens over 50..
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