Fitch downgrades US credit rating, citing mounting debt and political divisions ...Middle East

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WASHINGTON (AP) — Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt at the federal, state, and local levels and a “steady deterioration in standards of governance” over the past two decades. The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new rating is still well into investment grade. The decision illustrates one way that growing political polarization and repeated Washington standoffs over spending and taxes could end up costing U.S. taxpayers. A lower credit rating, over time, could raise borrowing costs for the U.S. government. It’s only the second time in the nation’s history that its credit rating has be

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Last updated : 02 August 2023 clock 05:24 PM

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Fitch downgrades US credit rating, citing mounting debt and political divisions ...Middle East

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