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Why Fitch Could Downgrade the U.S. - And Why They're Right to Do So
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Blog

Why Fitch Could Downgrade the U.S. - And Why They're Right to Do So

As with most events in life, timing was everything.  Fitch Ratings, Ltd. released a statement Tuesday announcing its intention to lower the U.S. credit rating unless the Administration and Congress can incorporate responsible fiscal policy (i.e., a balanced budget) into the upcoming debt ceiling debate. The press release took on special meaning in light of the presidential press conference less than 24 hours before, during which Obama pledged to ignore any deals from Congress matching the debt-ceiling increase with equal spending cuts.

01/17/2013
Treasury Secretary Timothy Geithner Deserves to be Fired
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Treasury Secretary Timothy Geithner Deserves to be Fired

To put it mildly, Treasury Secretary Timothy Geithner has a miserable track record. His fingerprints are all over the current fiscal disaster. Geithner has been grossly wrong on everything from the bank bailouts to the trillion-dollar “stimulus” plans. Under his watch, the U.S. credit rating was recently downgraded from AAA to AA+. He has had a direct role in bailing out the auto industry and spendthrift nations such as Greece, Ireland and Portugal with U.S. taxpayers’ dollars through the International Monetary Fund (IMF).

08/16/2011
Big Spenders in Washington—Not Tea Party— to Blame for Credit Downgrade
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Big Spenders in Washington—Not Tea Party— to Blame for Credit Downgrade

Lots of finger pointing has occurred following the first-ever downgrade of the United States credit rating last week. Numerous political figures, including Sen. Kerry (D-Mass.) and the Obama administration’s former chief advisor David Axelrod, blame the Tea Party for the Standards and Poor’s (S&P) downgrading the U.S. credit rating from AAA to AA+. Some media talking heads have even dubbed it the “Tea Party Downgrade.” The truth, however, tells an entirely different story.

08/11/2011