F
Fred Bloggs
Guest
\"In Fitch\'s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025,\" the rating agency said in a statement.
Well they got that deterioration part right.
The rating is more than just name-calling. In more practical terms it means the government has to pay more interest on the myriad of notes, bonds, and whatever else it sells to raise money. This could cost 100s billions additional annual.
GOP didn\'t consider any of this while they were pushing the government to the brink of default just so they could get their way with the hot-button issues for votes.
https://www.reuters.com/markets/us/fitch-cuts-us-governments-aaa-credit-rating-by-one-notch-2023-08-01/
Who is fitch anyway? They\'re an NRSRO, and \"A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) approved by the U.S. Securities and Exchange Commission (SEC) to provide information that financial firms must rely on for certain regulatory purposes.\"
Must means \"by law.\"
Well they got that deterioration part right.
The rating is more than just name-calling. In more practical terms it means the government has to pay more interest on the myriad of notes, bonds, and whatever else it sells to raise money. This could cost 100s billions additional annual.
GOP didn\'t consider any of this while they were pushing the government to the brink of default just so they could get their way with the hot-button issues for votes.
https://www.reuters.com/markets/us/fitch-cuts-us-governments-aaa-credit-rating-by-one-notch-2023-08-01/
Who is fitch anyway? They\'re an NRSRO, and \"A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) approved by the U.S. Securities and Exchange Commission (SEC) to provide information that financial firms must rely on for certain regulatory purposes.\"
Must means \"by law.\"