Moody’s says that NEITHER plan under consideration is going to stop the downgrade of the investment potential of the US.
It isn’t the debt ceiling.
It is the DEBT, and that DEBT continues after the debt ceiling, rasied or unraised.
Why is this so difficult for liberals to understand.
Moody’s says:
“Reductions of the magnitude now being proposed, if adopted, would likely lead Moody’s to adopt a negative outlook on the AAA rating,” the credit rating agency said in a new report. “The chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high.”
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