Free Market Correction
Moody's warns nations to cut spending or risk AAA ratingsWashington Post Foreign ServiceTuesday, March 16, 2010The 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.
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