U.K., U.S. Top Aaa Ratings Tested by Debt Burdens, Moody’s Says

http://www.bloomberg.com/apps/news?pid=20601087&sid=av16pDNNrMig

Moody’s Investors Service said the top debt ratings on the U.S. and the U.K. may “test the Aaa boundaries” because public finances are worsening in the wake of the global financial crisis.

Moody’s defines “resilient” countries as “Aaa countries whose public finances are deteriorating considerably and may therefore test the Aaa boundaries, but which display, in our opinion, an adequate reaction capacity to rise to the challenging and rebound.”

We shall see if we have an adequate, or correct reaction then...

Frank Statement on Moody’s Negative Outlook on Municipalities

http://www.house.gov/apps/list/press/financialsvcs_dem/pr040809.shtml

So now telling the truth isn't the way to go? To borrow a term from the election, you can't put lipstick on a pig.