Tuesday, March 16, 2010

Free Market Correction

Moody's warns nations to cut spending or risk AAA ratings

Washington Post Foreign Service 
Tuesday, March 16, 2010

The United States and other top world economies need to make potentially painful government spending cuts or risk losing the high-grade credit ratings that have kept borrowing affordable, the Moody's rating agency said Monday.

In an ironic twist of fate governments will now "enjoy" credit scores the same way regular folks do.  It is heartening that print-your-own-money governments are not exempt from the rigors and discipline of a free market economy.

Posted via email from Pa^2 Patois

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