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  • Moody’s

    Moody's on Debt Limit: Calling Obama's Bluff on Default

    A voice of reason emerged today among the doomsday predictions over a U.S. government default if the debt limit is not raised by mid-October. The Washington Post reports that Moody’s, a top credit rating service, suggested that hitting the debt limit does not mean the U.S. would default: “We believe … More

    Morning Bell: It's the Spending

    On Friday evening, Standard & Poor’s (S&P) downgraded the U.S. credit rating from AAA to AA+. As we and other conservatives warned, the spending reductions in the deal negotiated by President Obama to raise the debt ceiling were inadequate, and S&P reacted as we predicted but sooner. Neither Moody’s nor … More

    U.S. Debt Now Surpasses 2010 GDP

    The U.S. Treasury Department came out today with its Debt Position and Activity Report for July. The news is bleak. With the additional $238 billion the Treasury immediately borrowed when the debt ceiling was raised on August 2, total current debt now exceeds 2010 gross domestic product (GDP) for the … More

    Moody's Points to the Real Debt Judgment Day

    May 21, 2011, was supposed to be Judgment Day according to Harold Camping. It was, in a sense. As the day came and went, the world judged that Camping’s 15 minutes of fame were up. Treasury Secretary Tim Geithner may yet learn something from Camping. Geithner has been a whirlwind … More

    Is America’s AAA Rating in Trouble?

    America’s current predicament is that it borrows money from countries or individuals to finance many of its expensive obligations, including financing the $862 billion stimulus bill as well as the wars in Iraq and Afghanistan. But what would happen if America had to pay higher interest rates on all future … More

    Obama Pushes U.S. Credit Rating Below France

    On Tuesday, February 2, President Obama released his budget forecasting a deficit for 2010 of $1.6 trillion for the year and $9.1 trillion from 2010 through 2020. The next day the Moody’s credit rating agency announced Obama’s budget policies were so profligate and irresponsible as to risk the credit rating … More

    Morning Bell: Preventing the Biggest Bailout of All

    The bailout parade is continuing unabated in Washington this week. On the heels of a $25 billion bailout for the automotive industry, the Bush Administration agreed yesterday to a $4.3 billion bailout of Massachusetts’ out of control health care spending. Apparently when numbers like $700 billion are being thrown around, … More