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Quote from article: "Fitch, meanwhile, said even a deal to avert the cliff might not be enough to save the country's AAA rating."
by TomatoTomato 14y ago
Quote from article:
"Fitch, meanwhile, said even a deal to avert the cliff might not be enough to save the country's AAA rating."
- anonymoushn 14y agoThe preceding sentence: "Ultimately, if Congress and the president can't reach a deal to stabilize and eventually reduce the debt, now at $16 trillion, Moody's will probably cut the United States' current Aaa rating." Doing nothing is much closer to this sort of deal than any measure that reduces the amount of tax increases or spending cuts. The following sentence: "Temporary measures to stave off the budget shock without a credible strategy for the years beyond could earn the country a downgrade, said David Riley, managing director for sovereign ratings at Fitch."