Another warning shot was fired today against the U.S. over its failure to raise the debt ceiling. Moody's Investors Service threatened to lower America's credit rating due to the rising risk the government will default on its debt.
The credit rating agency said it plans to review the fed’s top triple-A bond rating because lawmakers haven’t been able to reach a deal over increasing the nation's $14.3 trillion borrowing limit to avoid a default. (Hate to mention it, but it's not turning out so well for Greece, Ireland and Portugal).
We technically hit this magic debt marker back in May. The Treasury says the government will default on its loans — for real — if nothing is done by August 2.
In response to Moody’s announcement, House Speaker John Boehner lashed out at Obama.
"As Speaker Boehner has warned for months, if the White House does not take action soon to address our nation's debt crisis by reining in spending, the markets may do it for us. This action by Moody's today reinforces the speaker's warning,'' said Boehner’s spokesperson.
We'll be discussing this more in the show tonight at 8pm ET.
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Does anyone take what Boehner says seriously anymore? Even the extreme right doesn't seem to be listening these days.
Baggers, how are your peas? Chew them fast cause they're getting cold and so is the US credit rating.
MR. HUSSEIN, you have 2 more years to fix the economy or NO MORE WHITE HOUSE, NO MORE AIR FORCE ONE, NO MORE SECRET SERVICE, NO MORE TELEPROMPTERS.
Do you Bagger loons ever go home? I know your loss is hard to take but really you should check in with Fox Snooze blog just in case your marching orders have changed. ROFL!
I am growing ever tired of how the "new right" distorts and perverts everything to their twisted way of thinking. The U.S. has not arrived at this critical cross roads overnight. It has taken decades of incompetence and poor planning to get here. There needs to be a vision and a plan for the country that reaches beyond the next election. I believe President Obama has that vision and plan. Are we not a nation of compassion? Are we not the United States? No, we are not. We are the Bickering and Infighting States. If we cannot unite toward common goals, it will be our downfall. This mentality of grabbing everything for yourself before it's gone is a detriment to the common good of the Nation. Let's pull together and make this country great once again. Besides, no matter what a person's material wealth might be, you can't take it with you.
Baggers are sore and stupid losers. Afaid of everything. I'm very happy to hear Mr. O'Donnell and sane Americans talk about the true nature of this narrow-minded racist sub set of politics exhibited by the baggers and repub party. Give them Hell!
PREMATURE CELEBRATION !!! No deals have been struck yet. When all is said and done, Obama will probably compromise AGAIN, wind up pissing off his base and millions of liberals like myself will absolutely SIT OUT THE 2012 ELECTION out of frustration. The pressure is on Obama not on the Republicans, they still hold all the cards. Mr. Boehner and the boys are sharks, they'll eat this BARACKUDA for breakfast. I don't know what goes on behind the scenes but they're playing this beautifully. Win or lose the economy still collapses and Obama still GETS ALL THE BLAME. Just beautiful.
Hi Cindy,
Obama is a much better poker player than any of the GOP. Wall Street & the rich will force the GOP to raise the debt ceiling, period. Obama just needs to wait. All this compromise talk is just that. They will pass a "clean" bill - just the debt ceiling, nothing else. The GOP picked this stupid fight. The debt ceiling is an affirmation of the money ALREADY spent. It is a "housekeeping" bill and should be. It was raised 7 times under Bush without all this hoopala. It has been raised by every congress since the first one. What got us to this deficit problem is the Bush Tax Cuts and the Wars. That's what needs to end to pay off the deficit. We don't need to cut entitlements - we just need to make the rich pay taxes. No matter what happens, the President will not allow this vote to crash our economy - he is too smart. The 14th Amendment is his ace in the hole. Wall Street will prevail and make the GOP raise it, period. The Moody's Re-rating warning just went out. Just watch what happens tomorrow. :) Pat
Bagger loon, this news is hot of the press so listen carefully. The Mega Rich Republicans in your Bagger loon sponsored carnival tent just called your Bagger loon representatives in congress and told them to "Shut up and raise the debt limit!" You see BL, when the American economy defaults it will impact their mega rich wallets too! Cantor said "What about the Bagger loon base? What are we going to tell them?" The Mega Rich Republicans said "Tell them to shut up and eat their peas!"
Repubs say they won't raise taxes on wealthy - that it would crush new jobs, new businesses, etc. Well, the taxes haven't been raised on the wealthy for years - WHERE'S THE JOBS?
and george w. bush said there was WMD in iraq.
The good news is rich people own the Republican party. Some rich people will gain if America defaults, but most will lose in the general chaos and unpredictability. Rich people will insist the Republicans chicken at the last minute. The Republican's masters are greedy and practical. Only a few like the Koch bothers care more about ideology than profit.
Don't kid yourself. The Koch brothers care more about profit than anything else.
Do unions own the Democratic Party? Not as much as the Corporations own the Republicans.
C'mon cindy3358832 and lookinthemirror99 tell us who you really are.Greta Van Sustern and Sean Hannity?
I'll tell you why the JOBS arn't. Every proposal the president has sent to the congress has been shot down or even refused to be discussed. Even job starting proposals that the Repubs submitted were turned down if the president said they were good ideas. They want to destroy him so bad they are willing to see the country go to the pits of hell to get their power back.
You must remember the people making these decisions are making 175,000 and tons of perks while we beg for jobs at half the wage we earned before.
These are ruthless political thugs bought and paid for by the richest people in this country. They do not represent you, they represent the people who bought their campaigns.
So stop blaming Obama. He will be reelected.
Then give up your tax breaks for your rich friends and get on with it and quit whining.