Moody's: Obama budget unlikely to be implemented

Reuters News

9/26/2011 9:19:25 AM - Reuters News

WASHINGTON (Reuters) - President Barack Obama's deficit reduction plan would be positive for U.S. ratings, but chances of its implementation are "extremely low," Moody's Investors Service said on Monday.

Moreover, the ratings agency warned in a report, deficit reduction in the United States is being made more difficult by the threat of lower economic growth.

(Reporting by Walter Brandimarte; Editing by James Dalgleish)