No one can blame Moody’s Investor Service for having a gloomy outlook over the coming budget battle in congress, especially with a lame duck congress due to meet in December.
Moody’s has just declared that it is ready to lower the United States’ bond rating should there be a budget fiasco resulting in the poison pill that will result on January 1st, with $600 billion in mandatory spending cuts, including Machiavellian cuts in the military, all of that combined with massive job losses.
Another recession, in other words.
This is too much for Moody’s, which has just thrown down the gauntlet to the American Voter/Taxpayer.
“We dare you,” they seem to be saying, “bring us another congress like the one you did last time and see what kind of economy you will earn for yourselves as a result.”
Moody’s message is loud and clear to the American voter: quit the nonsense and send some quiz kids to congress, not a bunch of naïve TEA Party hicks.