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Look at what the CDS and credit instruments are saying about the economy instead of blindly going on what the big-three credit raters say.
Yes, we have a debt issue for sure but Moody's view on it is irrelevant at a time when treasury auctions are at record low yields.
There are like 17 countries IIRC that have a higher rating by s&p than the US right now. I'd only say two or three actually deserve a higher rating on their list..places such as norway or switzerland.
The credit raters have politicized their ratings and hence are really not credible.
That said, there needs to be a cut in spending, agreed.
Both Republicans and Democrats are responsible. And, yes, I think more downgrades are inevitable.
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