Research

Is Obama’s Treasury Secretary playing chicken with our credit ratings agency? Today, at a House Appropriations Committee hearing, Tim Geithner was asked about Moody’s “warning shots” of America losing its triple A credit rating because of increasing deficits and debt, to which he responded:

                There's not a chance that's going to happen to our country.

We hope for the sake of our country that Geithner is right, because as CNBC’s Trish Regan explained today on MSNBC, a downgrade in our credit rating would mean Obama’s binge spending would cost us even more than it does now because it would be riskier for countries to lend to us.

But Obama’s binge spending has already left us with unprecedented deficits. The last thing we need is to pay higher interest rates on the money we are forced to borrow in order to pay for Obama’s binge spending agenda.