U.S. ratings downgrade imminent

[Spata]

Senate Majority Leader Harry Reid said Tuesday that credit rating agencies are considering a downgrade of the United States "as early as tonight," as lawmakers struggled to reach a debt ceiling agreement.

The source of Reid's information was unclear, and his office did not respond to a request for follow-up comment.

The big three rating agencies -- Fitch, Moody's and Standard & Poor's -- declined to comment on the senator's remarks, pointing to their previous statements on the debt ceiling showdown.

A failure to raise the debt ceiling by Thursday's deadline could prompt a default on the country's debt and chaos in world financial markets. Senate leaders from both parties said a deal is near to raise the debt limit and end the government shutdown, though House Republicans were considering their own proposal that the White House has already said it would reject.

http://money.cnn.com/2013/10/15/news/economy/reid-downgrade/

 

[SoonerBorn]

 

[SMS]

Everytime someone says that failure to raise the debt ceiling will result in a "default on our debt"....god kills a puppy.

It's an outright lie and fabrication.

 

[Wheel Gun]

It would take THAT to downgrade our financial health?! Given the rate that we're borrowing money, that seems to be a minor issue.

 

[cjjtulsa]

Someone should tell this idiot:

It wouldn’t be wise,” he said, “to just kick the debt-ceiling can down the road for a couple months, and flirt with the first-ever intentional default right in the middle of the holiday shopping season. Because damage to America’s sterling credit rating wouldn’t just cause global markets to go haywire; it would become more expensive for everyone in America to borrow money.”

America's "sterling" credit rating? If I had America's "sterling" credit rating, I wouldn't be eligible to borrow a freaking pencil.

 

[farmerbyron]

Let me get this straight. Our credit rating will go down if we do not apply for another credit card. That's how it works right?

 

[TwoForFlinching]

 

[Spata]

Let me get this right. Our credit rating will go down if we do not apply for another credit card. That's how it works right?

YES, we gotta max out another one to get more reward points.

 

[SoonerBorn]

Everytime someone says that failure to raise the debt ceiling will result in a "default on our debt"....god kills a puppy. It's an outright lie and fabrication.

.Win.

 

[ASP785]

YES, we gotta max out another one to get more reward points.

This is correct. The rewards points are what funds the EBT.