SOURCE: Industrial Info Resources

Industrial Info Resources

July 01, 2011 06:30 ET

Moody's Scolds Politicians for Dithering Over Federal Debt Limit, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Jul 1, 2011) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Partisan politics aside, President Barack Obama's Wednesday tongue-lashing of House Republicans on the federal debt ceiling showed how high the stakes have become: trillions of dollars of capital could be affected if the federal debt ceiling isn't raised by August 2.

After months of watching Washington politicians dither and preen over budget cuts and deficit reductions, Moody's Investors Service sent a clear and potentially explosive wake-up call to elected officials: Stop pointing fingers and fix the budget -- or risk a cut in the government's credit rating.

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