Monday, December 13, 2010

Moody's: U.S. at Risk of Losing AAA Rating

The U.S. tax and unemployment-benefit package agreed to by President Barack Obama and Republican leaders last week will increase the likelihood of a negative outlook on the U.S. Aaa rating in the next two years, Moody's Investors Service said.

If the bill becomes law, it will "adversely affect the federal government budget deficit and debt level," Moody's said.

Of course, what really needs to be done is for government spending to be cut ion addition to spending cuts.

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