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Another major bond rating firm on Monday reiterated its threat to downgrade the U.S. government to a B-plus rating if the debt ceiling isnt raised by August 2 and the government defaults on its debts.
The warning from Fitch Ratings comes after Moodys and S&P warned last week that they would lower the U.S. rating from the top mark of AAA if the country is unable to repay its debts next month.
The ratings agency said it still expects congressional Republicans and President Barack Obama to reach a deal in the next few weeks, but would downgrade the rating if the Treasury Department is unable to pay the $90 billion in Treasury bills that mature on August 4.
The more we're in debt the better the credit rating. So the reason Obama opposed raising the debt ceiling in '06 was that he wanted to tank America's credit rating....its the debt ceiling. So if we raise it to $1,000,000 Trillion bazillion, we'll get a AAAAAAAAAA credit rating.
As usual, the ratings agencies are way behind the curve. The U.S. should have been put on notice when the 2009 deficit exceeded $1T and lacked a budget (now for over two years).
40% of this year's spending is being funded with debt. Debt for CONSUMPTION. It's insane.
I could and did. I hate to point this out but the US could end up AA- and be the highest rated developed or developing nation in the world within two years.As usual, the ratings agencies are way behind the curve. The U.S. should have been put on notice when the 2009 deficit exceeded $1T and lacked a budget (now for over two years).
40% of this year's spending is being funded with debt. Debt for CONSUMPTION. It's insane.
True. I'd rep ya but I can't.
As usual, fear mongering.. screw that, don't raise the debt ceiling, quit spending so frackin much. How simple is that concept to understand.
Fitch: 'AAA' rating in jeopardy - Jennifer Epstein - POLITICO.com
Another major bond rating firm on Monday reiterated its threat to downgrade the U.S. government to a B-plus rating if the debt ceiling isn’t raised by August 2 and the government defaults on its debts.
The warning from Fitch Ratings comes after Moody’s and S&P warned last week that they would lower the U.S. rating from the top mark of AAA if the country is unable to repay its debts next month.
The ratings agency said it still expects congressional Republicans and President Barack Obama to reach a deal in the next few weeks, but would downgrade the rating if the Treasury Department is unable to pay the $90 billion in Treasury bills that mature on August 4.
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