Fitch: US Debt Still AAA-Okay
Fitch Ratings joined Moody’s on Tuesday in affirming the U.S. government’s AAA credit rating – ten days after Standard and Poor’s issued a historic downgrade.
In contrast to the S&P’s gloomy outlook, Fitch cited America’s “pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base” as justification for
It also said that “key pillars” of government’s creditworthiness remained “intact.”
Really? Exactly which pillars are these idiots looking at? Because as far as we can tell, “Samson has left the building …”
Look, the federal government is blowing more each month than its leaders have pledged to cut over the coming year … and government is scheduled to spend more over the next seventeen months than its leaders have pledged to cut over the coming decade.
That’s why we’ve added more than $3.8 trillion in deficit spending over the last three years … against, um, these “cuts.”
Again … how does that in any way, shape or form constitute a “pillar of exceptional creditworthiness?”
It doesn’t …
Also … that “flexible, diversified and wealthy economy” is literally one teetering global domino away from a second recession … which is exactly where we warned people that Barack Obama’s socialist experiment was going to take us.