Agencies Warn U.S. Over Credit Rating
Just admit that the federal government is a deadbeat, already
Wall Street ratings agencies are skeptical of the resolve of political leaders to tame the nation's debts, and are raising the likelihood that at least one of the three top agencies will add to the turmoil in financial markets at the end of the year by further downgrading the U.S. credit rating.
All three agencies have said since Election Day that they are following closely the negotiations over the "fiscal cliff," and whether the U.S. retains its top AAA rating from two out of the three — or gets downgraded further — depends on the White House and congressional leaders pushing through a major budget deal with $4 trillion or more in savings to stabilize the debt.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?