Posted on 08/01/2023 3:54:37 PM PDT by 11th_VA
The US’s credit rating has been cut to AA+ from AAA, in an unexpected blow to the world’s biggest economy.
The rating agency said its downgrade “reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to ‘AA’ and ‘AAA’ rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions.”
The US narrowly avoided a default just weeks ago, with the federal borrowing limit lifted at the eleventh hour after months of tension over spending cuts.
(Excerpt) Read more at ft.com ...
Yeah - I asked mod to pull this thread - my bad
“‘ fiscal deterioration’ ? That’s an optimistic outlook ...”
When the regular people are trying to buy a loaf of bread it beats the heel out of rotten to the core. But they lie all the time anyway.
wy69
Own this you political hacks.
Fiscal deterioration is just a nice way of saying Bidenskyyyynomics.
Treasury Secretary Janet Yellen said she strongly disagreed with Fitch's decision. "The change by Fitch Ratings announced today is arbitrary and based on outdated data," she said in a statement, pointing to indicators like near-record low unemployment and strong GDP as signals of the strength of the country's economy.Who ya gonna believe? An incompetent government cheerleading hack or Fitch?
just for you
The fact that we had to raise the debt limit to avoid default is proof enough the country is in serious economic trouble.
The Trump Stuff Is Chaff To Hide This.
It’s a plan.
No worries FRiend. A lot of FReepers miss the initial post so often it’s all good.
The US is bankrupt and its credit standing should be reduced to JUNK.
“Fitch cuts US credit rating and warns of ‘ fiscal deterioration’”
Expected, as our attempts to ‘punish’ Russia has resulted in a greatly-accelerated effort to displace the US Dollar as the international reserve currency.
To put it in layman’s terms: We’ll soon be unable to hide our HUGE DEBT.
ALL ACCORDING TO PLAN!
Because we are now a banana republic. We don’t have a honest government. We are embroiled in all types of chaos and conflicts politically internally going after the former president.
right on que with the orchestration to destroy the dollar in order to bring about the cashless society prophesied in Revelations chapter 13.
Don’t we get SOME love from Fitch for being a trans-friendly economy?
We’re one good (manufactured) financial crisis from the Great Financial Reset that will fix the fascist government’s money problems via “temporary bank closings” and the conversion to CBDC and haircuts on all savings & financial assets.
“I’m from the government and I’m here to help.”
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