“Moody’s Investors Service says the United States will retain its AAA credit rating after President Obama signed a bill to raise the federal debt ceiling.
Moody’s assigned a negative outlook on the top-notch rating, echoing comments by Obama that the new deal was only a “first step” toward a long-term debt solution.
Still in question is the rating assigned by Standard & Poor’s, which last month warned lawmakers of a possible downgrade.
The AAA rating enables nations to borrow funds at lower costs because their governments are considered stable and their bonds safe.” [Source: CNN]
SENIORS & MILITARY WILL GET PAID
THE RICH WILL KEEP THEIR TAX CUTS
After a protracted legislative process to solve a manufactured financial crisis, Democrats and Republicans make a deal that:
- Avoids Default
- Averts a Downgrade of US “AAA” Rating
- Makes No Cuts to Social Security, Medicare and Medicaid
- Sets up Congressional Committee for Further Cuts
- Achieves a Raise in Debt Ceiling Through 2012
Daily Cartoon from CartoonStock.com
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