Moore: Obama Is Just Wrong on Debt Ceiling

VISION2AMERICA, 6/4/2011, Re: Stephen Moore, Economist - The U.S. economy could cave in under a “mountain of debt” if Republican lawmakers “blink first” and agree to raise the government debt ceiling without taking concrete steps to reduce the ballooning deficit, a top economic reporter told Newsmax.TV. ∴ Stephen Moore, senior economics correspondent for The Wall Street Journal, said members of Congress and the American people need to realize the seriousness of the potential crisis as an Aug. 2 deadline looms for the government to raise its debt limit or default on its obligations. “I think the first thing people need to understand is this is not a fire drill — this is a real financial emergency,” Moore said. ∴ His comments came as credit ratings agency Moody’s said Thursday that it may cut the United States’ top-notch credit rating if lawmakers don’t make serious progress in their negotiations by mid-July. Read more at Newsmax (includes video)...