Moody’s cuts USA outlook to negative, citing higher interest rates and deficits

The Fed is between a rock and a hard place. But at some point the piper has to get paid.

I’d rather we get on track. It’s bullshite that the government isn’t held to the same standards as the people it technically should be representing.

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Until the CR doesn't pass, an action which ironically would translate to the government trying to lower its deficits.

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The issue is that we need to actually cut spending on the front end. Once we bind ourselves with a payment obligation, refusing to pay that obligation understandably hurts our reputation as it pertains to paying our debts.

Not good, we will see how the market reacts on Monday.
Interesting that they waited to announce this until a Friday after the close.

It would take a 1 term president to fix this mess. He'd have to make cuts to social security and Medicare and it would be extremely unpopular.

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It would take a 1 term president to fix this mess. He'd have to make cuts to social security and Medicare and it would be extremely unpopular.

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He couldnt do that unilaterally. I don't think you can elect enough people to Congress to meaningfully impact entitlements.

At the end of the day they will raise or eliminate the cap on payroll taxes (which will absolutely push me into rage), and as a compromise move back the full retirement age a year or two.