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Moody’s Investors Services Puts US Bond Rating on Review
Congress needs to move quickly in raising the debt ceiling, as Moody's Investors Services puts the US bond rating in review.
The pressure on lawmakers to raise the debt ceiling fired up last Wednesday, as Moody’s Investors Services brings the US bond rating into review. The move was made due to the “rising possibility” that Congress will be unable to raise the debt ceiling by August 2. If that will be the case, it could lead US’ debt on default. Moreover, the Treasury Department will be unable to pay the country’s bill in full and on time without being allowed to lend new money.
But even if lawmakers raise the debt ceiling in time, Moody’s pointed out that it is expecting progress on the long-term debt. Hence, the agency would likely change their outlook on US’ AAA rating from “stable” to “negative.”
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Taxes, Debated to be Used for Debt Reductions
United States of America's Congress are debating on how to reduce their nation's international debts, and to come up with a decision to use the taxes for reduction.
On Thursday, top lawmakers are expected to debate one of the biggest obstacle in the way of the debt-reduction deal that would allow the United Sates to continue borrowing at rock bottom rates — taxes.
US Vice President, Joe Biden, and six lawmakers will meet for a sixth time to talk about the growing external pressure for them the Congress to raise the $14.3 trillion debt ceiling before the August 2 deadline. However, bond markets remain calm while investors are increasingly alarmed that the Congress will be unsuccessful to act before that date.
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Written on October 30, 2013 -
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