Credit agency Moody’s cuts outlook on US government to negative

[BidenPresident]

The credit ratings agency Moody’s reduced its outlook on the US government from stable to negative, citing division in Washington DC and risks to the nation’s fiscal strength.

While Moody’s maintained the US’s current top-grade AAA rating, it raised the prospect that this may be cut.

Moody’s warned that the US’s deficits are likely to remain “very large” in the face of higher interest rates. It also cautioned that “continued political polarization” in Congress rasies the risk that governments “will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability”.

https://www.theguardian.com/business/2023/nov/10/moodys-us-government-credit-rating-negative

 

[BidenPresident]

Karine Jean-Pierre, White House press secretary, suggested the move was “yet another consequence of congressional Republican extremism and dysfunction”.

 

[Grokmaster]

Karine Jean-Pierre, White House press secretary, suggested the move was “yet another consequence of congressional Republican extremism and dysfunction”.

Because she's a fucking moron.

Bidenomics is a joke, and the real world sees it clearly.


U.S. manufacturing sector slumps in October-ISM

https://www.reuters.com/markets/us/us-manufacturing-sector-slumps-october-ism-2023-11-01/


However, the labor force participation (LFP) rate remains persistently low at 62.6% as of July 2023, almost a percentage point below its pre-pandemic level in February 2020. This raises the question of whether the pandemic permanently reduced participation or whether LFP still has the potential to move upwards.

https://www.frbsf.org/economic-rese...e participation,the potential to move upwards.

 

[Hawkeye10]

It only gets worse from here.

It will get a lot worse, and our society is not remotely prepared to deal with the stress, this will be chaos, this will be painful.

 

[BidenPresident]

US House Republicans plan shutdown-averting measure amid credit warning

WASHINGTON, Nov 10 (Reuters) - U.S. House of Representatives Republicans aim to release a stopgap measure to avert a partial government shutdown on Saturday, the morning after the Moody's credit agency lowered its outlook on the government's credit ratings to "negative."

A knowledgeable source, who spoke on condition of anonymity, said plans for the release of the continuing resolution, or "CR," were still in flux. It was also unclear what form the measure would take.

https://www.reuters.com/world/us/us...hutdown-averting-measure-saturday-2023-11-10/

 

[Hawkeye10]

This will be like Argentina going from having or almost having the best standard of living in the world to where they are now, except it will happen much faster, and the Han are determined that America be the worlds premier shit-hole country far into the future as revenge/justice for the various crimes of the American Empire....which includes Ukraine and Israel.

They will insist.