U.S. Warned Of Ratings Downgrade

As we head toward the brink of another fiscal disaster, the United States faces another possible ratings downgrade.

Fitch warned that the political battle “risks undermining confidence in the role of the US dollar as the pre-eminent global reserve currency, by casting doubt over the full faith and credit of the US.”

The White House seized on the announcement, saying that it demonstrated the urgency of reaching a deal.

But senior Republicans in the House of Representatives inched further to the brink on Tuesday night when they abandoned a planned vote on a so-called continuing resolution, which would have extended the debt ceiling and reopened the federal government.

By: Alan

Alan Colmes is the publisher of Liberaland.