News & Sports -> News

MacGovern, Moody's Warn of Looming Debt Danger After Election

MacGovern, Moody's Warn of Looming Debt Danger After Election Windsor Vermont


posted at 11:12 am Mon Sep 17th, 2012 by (WherezIt_Staff)

Today US Senate Candidate John MacGovern echoed concerns of Moody's Rating Agency on Tuesday that the US Government needs to address the debt issue in the coming months.

Today US Senate Candidate John MacGovern echoed concerns of Moody's Rating Agency on Tuesday that the US Government needs to address the debt issue in the coming months.

"The chickens are coming home to roost," said MacGovern on Friday after news that ratings giant Moody issued a stern warning of a credit downgrade to the United States. "For years we have had spendthrifts in Washington. They have come from both parties, Republicans and Democrats. I am offering the people of Vermont a true change in the Washington culture that has clearly captured Senator Sanders.

Moody's claimed that if the Debt-to-GDP ratio was not put "back on a sustainable track", with future debt ceiling increases done in a more "orderly process", the warning would become reality sometime next year.

"This is strike two," continued MacGovern. "We have seen these agencies are not bluffing, and it will have real and dire consequences if we ignore them a second time. There are two ways to meet the criteria of that Moody's has set forth. The first is that we can reduce our deficit. Senator Sanders wants to raise taxes, I want to cut spending. But the other option is to get our economy producing again!

I would reform our federal tax code to encourage investment and job creation. Senator Sanders has absolutely nothing of value to offer along these lines. He does not understand how to get the economy going, or how to create an environment that attracts business and innovation, and so he has put forward no plans except to make war on them and drive them out of business. The ideology that Senator Sanders subscribes to is itself bankrupt.

Relevant Address(es):
Montpelier, VT 05602 (Set as Local)
Windsor, VT 05089 (Set as Local)

Add your
Add more information or share what you think about this article.

Subject
Have the website send an email notification whenever anybody else comments on this story.
   







Want to see your ad here?


© 2019 WherezIt.com

Page generated in: 0.089 seconds
Query Count: 46 Query Time: 0.043