[Hinigyday]

This "deal" doesn't cut anything...just slows spending growth a tiny little bit in about 10 years. It should be rejected. People forget $1 trillion in ObamaCare taxes hit in January 2013. This country will be bankrupt within 10 years...

http://thehill.com/blogs/on-the-mone...ons-aaa-rating

Moody's: Neither debt plan protects the nation's AAA rating

By Peter Schroeder - 07/29/11 05:11 PM ET

The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday.

"Reductions of the magnitude now being proposed, if adopted, would likely lead Moody's to adopt a negative outlook on the AAA rating," the credit rating agency said in a new report. "The chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high."

It added that "prolonged debt ceiling deliberations" have increased the odds of a downgrade, but that the firm is still confident policymakers will avoid a default.

"It remains our expectation that the government will continue with timely debt service," the firm said.