Thanks Barack… Fitch Cuts US Economic Outlook to Negative


Fitch Ratings cut the US economic ratings to negative today. The new outlook indicates a 50% chance that the company will downgrade the US in the next two years.

FOX Business
reported:

Fitch Ratings kept its pristine AAA rating on the U.S. on Monday, but the credit-ratings company downgraded its outlook to “negative” in the wake of the Supercommittee’s failure to find $1.2 trillion in spending cuts.

The development, which had been hinted at last week, could have been worse for the U.S. as McGraw-Hill’s (MHP: 41.20, +0.66, +1.63% ) Standard & Poor’s slashed its credit rating for the first time ever in August.

However, the negative outlook indicates a “slightly greater” than 50% chance that Fitch downgrades the U.S. over the next two years.

“Failure to reach agreement in 2013 on a credible deficit reduction plan and a worsening of the economic and fiscal outlook would likely result in a downgrade of the U.S. sovereign rating,” David Riley, a managing director at Fitch, said in the report.

For the record…
The Obama administration tripled the US deficit in a year.

The Obama deficit reached $1.299 trillion this past year. It was the third year in a row that the deficit was over a trillion dollars. (The Captain’s Comments)

But, democrats refuse to cut spending.
And, they blame the current crisis on the Republicans.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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Thanks for sharing!