Fitch downgrades U.S. long-term rating to AA+ from AAA

[bernard]

Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA on Tuesday, pointing to “expected fiscal deterioration over the next three years,” an erosion of governance and a growing general debt burden.

“The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management,” said Fitch.

Fitch downgrades U.S. long-term rating to AA+ from AAA

The rating agency cited "expected fiscal deterioration over the next three years."

www.cnbc.com

 

[bernard]

Stocks sink after historic US credit rating downgrade

Fitch Ratings downgraded its US debt rating on Tuesday from the highest AAA rating to AA+, citing "a steady deterioration in standards of governance."

www.cnn.com

 

[Olde Hornet]

Is fitch working on behalf of the wealthy to undermind the democrats?

 

[JROCK]

Is fitch working on behalf of the wealthy to undermind the democrats?

I definitely believe that downgrade is suspect….

 

[bernard]

Approving a debt ceiling increase in 2002 could have avoided the Democratic-controlled House, and the country, a major headache in 2023. In 2022, the Democratic-controlled House can have passed a debt ceiling bill that addressed the debt ceiling only. This year, the Republican-controlled House added two years of spending caps, additional work requirements for food stamps and cuts to I.R.S. to the debt ceiling bill. This could be one of the reasons for Fitch's downgrades. After weeks of negotiations, Biden signed into law June 3, 2023, a bill to suspend the nation's debt limit through January 1, 2025.

Democrats have the chance to prevent an economic calamity

By addressing the debt ceiling in the lame-duck session, they could avoid a potential crisis next year.

www.vox.com

Democrats hope to address debt ceiling before GOP takes over House

But Congressional leaders have neither scheduled nor planned a vote on the debt ceiling before the end of the year.

www.cbsnews.com

Debt limit fight puts US on credit watch

The U.S. is on credit watch as high-stakes negotiations over the debt limit take center stage in Washington. Credit agencies are warning that the nation’s stellar credit rating could be downg…

thehill.com

New Details in Debt Limit Deal: Where $136 Billion in Cuts Will Come From

Two years of spending caps, additional work requirements for food stamps and cuts to I.R.S. funding are among the components in the deal.

www.nytimes.com

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