Time to Go To School on Government Finance

You may already have read about the memo circulating on Capitol Hill from Moody's Investor Services. Moody's is on e of the credit rating agencies on Wall Street.  Moody's has maintained a AAA rating for United States' bonds and consistently supported their view that there is adequate liquidity to justify the rating.  Listening to the fear mongering  from politicians about the national debt limit you might think that the Treasury's cupboard will be bare on October 18th if action is not taken.  No so says Moody's.  You can read summaries of their memo in many places.  Here is a link to the weekly Standard's article.  I cannot link you to the Moody's report which is available only to their subscribers.  All you need to know is in the linked article.