I love this! Moody's sent out a memo today refuting obama and the Spite House's claim that not raising the debt ceiling would be catastrophic and cause us to default on our loans.
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” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.
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BOOM!
I wish the lame stream media would report the truth about this.
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