Citing the “quantitative easing from the Federal Reserve”, and mounting federal debt, Egan-Jones has been able to see through the Obama administration’s reality-bending ahead of the election, and are fully aware that the things that the Obama administration are doing to try and fool the voters into thinking that the economy is making a rebound are just smoke and mirrors designed to trick the American People.
Standard & Poor’s has already downgraded our nation’s credit rating, and Moody’s Investors Service said just this week that it will probably do the same.
Ratings firm Egan-Jones cut its credit rating on the U.S. government to “AA-” from “AA,” citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country’s credit quality.
In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.’s real gross domestic product, but reduces the value of the dollar.
In turn, this increases the cost of commodities, the firm said.
In April, Egan-Jones cuts the U.S. credit rating to “AA” from “AA+” with a negative watch, citing a lack of progress in cutting the mounting federal debt.
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