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Credit Rating Agencies Turning Heat Up on Congress

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  • Description

    FBN’s Adam Shapiro breaks down the latest move by Moody’s and the other agencies.

  • Duration 2:02
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-- we're joined now a by Adam Shapiro from the Fox News from Washington DC with more on the action in that town -- -- -- that's right and things here again people's team not just the humidity the credit rating agencies they're turning up the heat on congress and the Obama administration.

Friday's downgrade was -- downgrade was just the beginning Treasury Secretary Tim Geithner sharply criticized S -- -- decision.

To cut the USA's triple -- rating I'm not saying it shows terrible judgment.

But this morning ratings agency Moody's says it may still -- the US -- before 2013.

If the US fiscal or economic situation deteriorates significantly.

The administration and congress fought back over the weekend and even got some help from former administration members like David Axelrod.

Let's look at the history of this the fact of the matter is that this is essentially a Tea Party downgrade the Tea Party brought us to the brink.

Of a of a default that clearly is on the on the backs those who who are willing to see the country do you fault that those those very strident voices in the Tea Party.

Unfair says -- -- -- head of sovereign ratings David Beers He defended the agency's decision saying congress and the administration.

Are jointly responsible for the conduct of fiscal policy.

This is really not about it to -- either political party it's about the difficulty.

All sides in finding.

You know a consensus.

Around fiscal policy choices now and in the future.

He admits it it -- that two trillion dollar error in its math while deciding to downgrade the US but the agency says.

It stands by the decision and I heard -- -- who speaks southern very well speak a little bit of Yiddish.

-- -- that but guess but perhaps even -- -- would be appropriate bacon salami all.

-- -- I can translate Michigan I mean -- not they are not.

You've got it like -- right another term -- alone mean that --

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