Point-Counterpoint

Point-Counterpoint

But in a phone call Friday evening, McConnell told Reid he wanted the White House at the table and expressed frustration that President Obama had rejected an emerging compromise between the two Senate leaders last weekend. Aides said McConnell expected to speak with administration officials Friday night and tamped down talk of an impasse. But Senate Democratic leaders reacted with outrage, accusing McConnell of blocking a deal. Without such an agreement, Obama warned that the United States stands to lose its sterling AAA credit rating — “not because we didn’t have the capacity to pay our bills. We do. But because we didn’t have a triple-A political system to match our triple-A credit rating.  - Congressional leaders struggle to work out bipartisan debt deal Moody's: Neither debt plan protects the nation's AAA rating The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday. "Reductions of the magnitude now being proposed, if adopted, would likely lead Moody's to adopt a negative outlook on the AAA rating," the credit rating agency said in a new report. "The chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high."