Kasich lying; says bond rating companies threatening to lower Ohio’s bond rating if SB 5 is repealed

[upstatecajun]

Governor Kasich lying; says bond rating companies threatening to lower Ohio’s bond rating if SB 5 is repealed
By ModernEsquire On April 15, 2011 · View Comments ....I’m starting to believe John Kasich couldn’t recognize the truth if it was wearing a name badge. Just two days ago, we discussed how the big three public financing bond rating agencies weren’t impressed with Kasich’s agenda. The Dispatch reported before the trip that Kasich hoped to impress them with his agenda.

Now, multiple news outlets are reporting that Governor Kasich is declaring victory because the bond rating agencies didn’t lower Ohio’s bond ratings:

“I went to see the ratings agencies a couple Fridays ago,” Kasich told the Rotary Club of Cincinnati at a downtown luncheon. “We are on negative watch, (but) Moody’s has decided not to downgrade us at this point.”

Kasich said he learned of the ratings decision a few hours before his Cincinnati appearance. He said Moody’s was impressed by the passage of Senate Bill 5, “which allows local communities to manage their costs. They are very positive about the fact that we have eliminated the structural deficit. What threatens our credit rating? A continuing declining economy and a disruption of the major reforms included in our budget.”

http://www.plunderbund.com/2011/04/15/governor-kasich-lying-says-bond-rating-companies-threatening-to-lower-ohios-bond-rating-if-sb-5-is-repealed/

[indepat]

1. Kasich would never lie: he might distort, dissemble, prevaricate, obfuscate, bring dis-ingenuity to

an art form. But lie: never! :patriot:

[DCKit]

2. What ^ you said. nt

[Canuckistanian]

3. My question would be

Why is Ohio so dependent on bond ratings? What if there's massive speculation on those bonds and they lose money anyway?

Why should bond rating companies have such a stranglehold over fiscal policy?

[dsc]

4. because it makes it more expensive to borrow money

when your bond ratings go down.