A scenario former United States Treasury Secretary Henry Paulson described as “unthinkable” during a recent discussion in Aspen is apparently imaginable in the minds of Moody’s Investors Service. Moody’s is the first of the big-three rating agencies to place the United States’ triple-A rating on review for a possible downgrade. The agency said there is a small but rising risk the federal government could default on its debt.
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In a new paper released Wednesday, entitled “How the Great Recession Was Brought to an End,” prominent economists Alan Blinder and Mark Zandi say the stimulus, stress tests, emergency Federal Reserve maneuvers and Troubled Asset Relief Program saved the…
WASHINGTON– Last week, as House Democrats took to the floor with near-unanimous praise for legislation to help the unemployed and stimulate the fragile economy, Rep. Lloyd Doggett (D-Texas) offered a wildly different message.
“This bill,” he said, “represents a textbook example of how not to deal with the economic challenges that our country faces.”