You can't make this up: Fitch just downgraded the United Sta...
You can't make this up:
Fitch just downgraded the United States' credit rating and said they lost confidence in the government's "fiscal management."
Fitch basically just called the US fiscally irresponsible.
As we saw in the 2011 debt ceiling crisis, cutting the US credit rating is expensive.
Borrowing costs rise and confidence in the system is lost.
Now, history has repeated itself.
Only this time, the debt ceiling is effectively uncapped until January 1st, 2025.
Meanwhile, spending "unexpectedly" increased 15% in June and interest expense on US debt is about to hit a record $1 trillion this year.
Simply put, this is unsustainable.
Fitch just downgraded the United States' credit rating and said they lost confidence in the government's "fiscal management."
Fitch basically just called the US fiscally irresponsible.
As we saw in the 2011 debt ceiling crisis, cutting the US credit rating is expensive.
Borrowing costs rise and confidence in the system is lost.
Now, history has repeated itself.
Only this time, the debt ceiling is effectively uncapped until January 1st, 2025.
Meanwhile, spending "unexpectedly" increased 15% in June and interest expense on US debt is about to hit a record $1 trillion this year.
Simply put, this is unsustainable.
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Chasing_Freedom : what do you think will happen to hpq? especially after fomc meeting