MMC
08-20-2011, 02:12 AM
Fitch says.....
The increase of at least $2.1 trillion in the $14.3 trillion debt ceiling means "the risk of sovereign default remains extremely low," Fitch said in a statement.
"The fundamental economic and financial underpinning of the United States' 'AAA' status remains strong despite the heated political debate over the role of government and how best to reduce the out-sized federal budget deficit," said Fitch, one of the three leading credit-rating agencies.
Fitch said the deal, which President Obama is expected to sign shortly, shows that "there is the political will and capacity to ultimately do the right thing." The deal is "an important first step" toward a long-term plan to reduce the nation's soaring budget deficit "that would secure the United States' 'AAA' status over the medium-term," the credit-rating agency said.....snip~
http://latimesblogs.latimes.com/money_co/2011/08/fitch-reaffirms-us-triple-a-rating-after-debt-deal-approval.html
http://www.reuters.com/article/2011/08/02/us-usa-fitch-rating-idUSTRE7714LR20110802
Fitch noted that without significant changes in fiscal policy, The U.S. federal, state, and local debt as a percentage of gross domestic product "will reach 100 percent by the end of 2012, and will continue to rise over the medium term -- a profile that is not consistent with the United States retaining its AAA sovereign rating."
The firm expects U.S. federal debt-to-GDP levels alone to reach 70 percent by the end of this year, and increase over the next 15-20 years into the mid-80 percent range.
In comparison, Fitch says debt-to-GDP levels are at 191.8 percent in Japan, 148 percent in Greece, 88 percent in Portugal, 73 percent in France, 50.9 percent in Spain, and 44.1 percent in Germany.....snip~
So Fitch and Moody's keep the rating the same.....Interesting to note that they are now talking about pulling France' Triple AAA rating and the Brits. Who have increased in their inflation. Now Germany and the EU shows no growth for the second quarter like these European and Independant Economists thought. The same ones that our Economists keep looking to with their so-called assessments for the US and our growth. Thoughts?
The increase of at least $2.1 trillion in the $14.3 trillion debt ceiling means "the risk of sovereign default remains extremely low," Fitch said in a statement.
"The fundamental economic and financial underpinning of the United States' 'AAA' status remains strong despite the heated political debate over the role of government and how best to reduce the out-sized federal budget deficit," said Fitch, one of the three leading credit-rating agencies.
Fitch said the deal, which President Obama is expected to sign shortly, shows that "there is the political will and capacity to ultimately do the right thing." The deal is "an important first step" toward a long-term plan to reduce the nation's soaring budget deficit "that would secure the United States' 'AAA' status over the medium-term," the credit-rating agency said.....snip~
http://latimesblogs.latimes.com/money_co/2011/08/fitch-reaffirms-us-triple-a-rating-after-debt-deal-approval.html
http://www.reuters.com/article/2011/08/02/us-usa-fitch-rating-idUSTRE7714LR20110802
Fitch noted that without significant changes in fiscal policy, The U.S. federal, state, and local debt as a percentage of gross domestic product "will reach 100 percent by the end of 2012, and will continue to rise over the medium term -- a profile that is not consistent with the United States retaining its AAA sovereign rating."
The firm expects U.S. federal debt-to-GDP levels alone to reach 70 percent by the end of this year, and increase over the next 15-20 years into the mid-80 percent range.
In comparison, Fitch says debt-to-GDP levels are at 191.8 percent in Japan, 148 percent in Greece, 88 percent in Portugal, 73 percent in France, 50.9 percent in Spain, and 44.1 percent in Germany.....snip~
So Fitch and Moody's keep the rating the same.....Interesting to note that they are now talking about pulling France' Triple AAA rating and the Brits. Who have increased in their inflation. Now Germany and the EU shows no growth for the second quarter like these European and Independant Economists thought. The same ones that our Economists keep looking to with their so-called assessments for the US and our growth. Thoughts?