This comes just days after Obama nudged the SEC to investigate S&P for giving the U.S. economy the downgrade it deserves.
Fitch Ratings on Tuesday, citing the “exceptional creditworthiness” of the U.S., reaffirmed its highest AAA credit rating for U.S. debt.
Fitch, one of the ‘big three’ ratings firms along with Standard & Poor’s and Moody’s Investor Service, said the U.S. would maintain its coveted AAA rating because of the ability of its broad and diverse economy to withstand economic shocks.
“The affirmation of the US ‘AAA’ sovereign rating reflects the fact that the key pillars of US’s exceptional creditworthiness remains intact; its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base, Fitch said in a statement.
Any country that spends its way to a $14+ trillion debt that exceeds its GDP, with no end in sight, does not deserve a AAA credit rating. Out of all the credit rating agencies, Standard and Poors was the only one with integrity.