Moody's: Neither debt plan protects the nation's AAA rating By Peter Schroeder - 07/29/11 05:11 PM ET http://thehill.com/blogs/on-the-money/801-economy/174447-moodys-neither-plan-protects-the-nations-aaa-rating The plan currently put before Congress will not effect any possible default. That would happen sometime down the road when US bonds mature and the govt make good on the loan. On the otherhand, creditors are nervous not because of a pending default, they are worried that we as a country have taken on too much credit and the day of reckoning is more likely. If we do not address our ever growing reckless debt problem, you can say good-bye to our AAA credit rating and hello to higher interest rates which will add even more to the natl debt. Any congressperson who votes for this bill without reading it should be tarred, feathered and run out of town. This is another blow to deliver by our current govt to destroy the country. If this goes thru, we should direct our efforts to writing a new Constitution---one with teeth.
“Governments are instituted among Men, deriving their just powers from the consent of the governed, -- That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it…” Declaration of Independence , 1776 – today. We the People http://www.youtube.com/watch?v=JVAhr4hZDJE -- To join RichsRants, send email to: [email protected] For more options, visit this group at http://groups.google.com/group/richsrants?hl=en
