Reid says his plan will satisfy debt rating agencies
STEPHENS WASHINGTON BUREAU
Posted: Jul. 26, 2011 | 10:15 a.m.
WASHINGTON -- Sen. Harry Reid, D-Nev., today pressed for support of his legislation to solve the debt crisis, citing a report that it would satisfy bond rating agencies and avert a downgrade of U.S. debt while a competing Republican plan would not.
NEW YORK (Dow Jones)--Standard & Poor's said Tuesday that reports that it would endorse one of two competing Congressional frameworks to secure an increase the U.S. debt ceiling are "inaccurate."
"Standard & Poor's has chosen not to comment on the many and varying proposals that have arisen in the current debate," the ratings agency said in an official announcement. The official statement echoes comments a spokesman gave to Dow Jones earlier in the day.
Ratings agencies have repeatedly said throughout the ongoing debt debate that they do not endorse any specific deals to cut long-term U.S. deficits.
Reports early Tuesday indicated that S&P was said to prefer Sen. Harry Reid's (D-Nev.) plan over the one being pitched by House of Representatives Speak John Boehner (R-Ohio).
Can the Dems tell the truth about anything when they are trying to stuff something down peoples throats? :roll: