▲ 98 ▼ Fitch downgrades US credit rating, citing mounting debt and political divisions (apnews.com) submitted 3 years ago by MicroWave@lemmy.world to c/news@lemmy.world 7 comments fedilink hide all child comments The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new rating is still well into investment grade.
[–] johnefrancis@lemmy.ca -2 points 3 years ago (2 children) 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. permalink fedilink source hideshow 4 child comments replies: [–] chuckleslord@ttrpg.network 11 points 3 years ago 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. permalink fedilink source parent [–] johnefrancis@lemmy.ca 5 points 3 years ago "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 permalink fedilink source parent
[–] chuckleslord@ttrpg.network 11 points 3 years ago 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. permalink fedilink source parent
[–] johnefrancis@lemmy.ca 5 points 3 years ago "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 permalink fedilink source parent