Fitch Ratings has warned the United States that it better not miss its $120 billion debt obligations tomorrow, or it will cut the United States’ AAA debt rating. By putting America’s creditworthiness on its “Ratings Watch Negative” list, Fitch is ordering the U.S. government to get its act together and end the debt-ceiling dilemma. In a statement released by the company, it summarized the situation like this: “Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financial flexibility could increase the risk of a U.S. default.” Investors hope both parties heed this warning and set things straight… before tomorrow.
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