RE:RE:RE:Fitch catches flak for oddly-timed credit downgrade:Yes goldstd69....
In my mind there are two issues at play here..
1.....the timing
2....answering the question as to whether a downgrade was warranted
In terms of the timing it did strike me as being strange in that there is really nothing new in the past few months that would trigger a rethink of the US debt rating ;eading to an announcement today.
In terms of whether the US debt should be downgraded, it is my opinion that the answer to that is a resounding YES. After the debt ceiling agreement, the CBO scored the deal and it shows an increase in the US debt of about 20 trillion over the next 10 years or about a 66% increase in the debt. These are scary numbers and it appears that neither the Democrats or Republicans are really serious about doing anything about it.
The other scary thing about the 20 trillion increase in debt is that the historically the CBO numbers/forecast are low since the CBO scores current actual spending plans and politicians always seem to come up with more spending ideas and no plan to to pay for them.