US 'AAA' credit rating in jeopardy without debt ceiling boost

[DonViejo]

Source: The Hill




BY VICKI NEEDHAM - 08/23/17 01:02 PM EDT

The United States will risk its perfect credit rating if Congress fails to raise the debt ceiling this fall, a credit agency said on Wednesday.

Fitch Ratings, which determines global creditworthiness, warned "if the debt limit is not raised in a timely manner" — prior to a likely October deadline — "Fitch would review the U.S. sovereign rating, with potentially negative implications.”

The ratings agency also cautioned against any plans to prioritize debt payments, a move Treasury Secretary Steven Mnuchin said he refuses to employ.

The U.S. boasts a AAA credit rating, and a default on the nation's debt would have ripple effects around the world.

Read more: http://thehill.com/policy/finance/347663-us-aaa-credit-rating-in-jeopardy-without-debt-ceiling-boost

[Gothmog]

1. Trump is doing to the US what he did for his businesses

[rurallib]

2. Aren't we wanred every time the debt ceiling comes up

that it will ruin our credit rating.

Makes me wonder if Republicans would like to see that happen. Piss away more money that can't be used for social programs.

[BumRushDaShow]

3. Remember when S&P DID downgrade the U.S. from AAA to AA+ under Obama?

https://www.washingtonpost.com/business/economy/sandp-considering-first-downgrade-of-us-credit-rating/2011/08/05/gIQAqKeIxI_story.html



Notice The Hill doesn't say anything about S&P and their not raising it back up even this year, nor do they mention other credit agencies?

[DK504]

4. We have a AAA rating?

We should lose it. We don't pay off our debts, we still have to borrow money, along with our trade deficit we shouldn't have this rating. Maybe if we really lost it it would force the Congress into doing what has to be done for the country...okay wishful thinking, still.