2y ago

Fitch downgrades US credit rating, citing mounting debt and political divisions

apnews.com Fitch downgrades US credit rating, citing mounting debt and political divisions

Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt at the federal, state, and local levels and a “steady deterioration in standards of governance” over the past two decades.

The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new rating is still well into investment grade.

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2y ago

Fitch downgrades US credit rating, citing mounting debt and political divisions

apnews.com /article/credit-rating-downgrade-deficit-68fb6c578190d8361b6639e603714e5a

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8 comments

Having a credit rating on the imaginary debt of the US is ridiculous.
The federal govt doesn't borrow US dollars - it creates US dollars.
It's impossible to default.
- It's not impossible to default. It should be, but it isn't due to "debt ceiling" nonsense. Political instability is the cited reason for the downgrade and, yeah, makes perfect sense why that would be.
- "U.S. Credit Rating Downgraded: How Will It Impact Your Investments?"
  http://ca.investing.com/analysis/us-credit-rating-downgraded-how-will-it-impact-your-investments-200575853