Just this tidbit, to add some historical background. IIRC, there was a lot of hand ringing in 2011. And some histeria about Fitch in 2023. Those were followed up with “kick the can down the road” by our L&Ss.
Gemini AI:
AI Overview
The three major credit rating agencies have all downgraded the United States’ debt rating. Standard & Poor’s was the first to downgrade the U.S. in 2011, followed by Fitch Ratings in 2023, and most recently, Moody’s on May 16, 2025.
Here’s a breakdown of the downgrades:
- Standard & Poor’s (S&P):
Downgraded the U.S. in 2011, citing concerns over the debt ceiling and the threat of a potential default.
Downgraded the U.S. in 2023, citing fiscal deterioration, a high and growing government debt burden, and erosion of governance.
Downgraded the U.S. on May 16, 2025, citing rising debt and interest payment ratios, which are significantly higher than those of similarly rated sovereigns.
ralph
@buynholdisdead posted graphs for the 2011 n 2023 dates.
I didn’t see that other topic until just a couple minutes ago.