Moody’s Threatens To Cut US Credit Rating

Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.” Jim Bakker in “Prosperity and the Coming Apocalypse”

Credit ratings agency Moody’s has issued a statement threatening to cut the United States debt rating if there is no debt deal by government officials to cut the overall debt to GDP ratio. If no deal is reached by the end of the 2013 Congressional legislative session.

Moody’s says the rating would be cut one notch to Aa1. The result of the downgrade would be increased interest rates on any borrowing done by the US government and a downgrade in the quality of US bonds. The group also noted that no action is likely to take place until the 2013 budget deal is completed by Congressional officials remaining at Aaa with a negative outlook.

Washington officials reacted swiftly to the announcement.

“Today’s warning by Moody’s underscores the point we have been making all year,” House Speaker John Boehner said to reporters. “The threat to American jobs comes not from our action on our debt, but from our inaction on our debt.”

Moody’s stated that the US could not return to its Aaa rating with stable outlook unless there is evidence of rebound in the economy after the budget deal.

 

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