Fitch Downgrades US After Super Committee Failure
Debt outlook revised to negative By Evann Gastaldo, Newser Staff Posted Nov 29, 2011 7:47 AM CST
"(Newser) – Thanks to the super committee’s super failure, Fitch Ratings has downgraded US debt outlook to negative. Fitch did not lower the US’ AAA rating for long-term treasuries, but a Fitch official says a negative debt outlook often leads to such a downgrade. That decision is not expected until late 2013, CBS News reports. “We didn't expect that the committee would be able to resolve the budget problem in one single go, but we had believed it was possible for the committee to provide a platform for developing a consensus on how to reduce the deficit,” he says. "
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