Moody's turns negative on US credit rating, draws Washington ire
Moody's turns negative on US credit rating, draws Washington ire
Moody's on Friday lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration.
White House immediately springing into action with tactical whining
Actually, if you ignore food, shelter, healthcare, childcare, and a few other unimportant things, the economy is fantastic!The funny thing is, the capitalists at Moody's and similar are downgrading the US's credit rating based on the economy not being exploitative enough.
"The economy is terrible! Food, shelter, healthcare, childcare, and everything else is way too cheap! You have to get rid of social security, SNAP, and Medicare!"
"Neither party has seriously addressed the rising costs of the Social Security and Medicare programs that represent a significant slice of federal spending"
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The IMF should intervene
All this does is make the bonds the US issues require a higher interest to attract buyers, which cascades throughout the market making everything more expensive, and rewarding more people with money to loan to others
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