In astonishing (or not so astonishing if your a conservative) news, Moody has just made the first notice that the United States will pass the limit and drop to AA rating (as will England). Moody also notes that it will get worse before it gets better (In other words an A rating, or lower).

This would have a dramatic affect upon how our currency trades, how our T-bills do, and even cause China to stop buying our treasuries...

This is the 'dramatic' score from Moodys, but does not include the debt burden for Health Care, College rights, Social Security's bankruptcy, and the individual States needing more bailouts. And more bailouts are needed for California, Oregon, New York, Illinois, Michigan and more (Socialist states).

The news hit the Stock market, causing it to tumble in trading yesterday.