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The last time the US debt was downgraded by another major credit rating agency, S&P, came in 2011. In both cases, the limit was raised only after protracted negotiations.
Just a few days before the United States might default on its debt, Fitch Ratings has placed the country's AAA long-term foreign-currency issuer default rating on negative watch, citing the...
News. Science & Tech. Shopping. Sports. Weather. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. ... including on fiscal and debt matters," the rating agency said ...
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
S&P downgraded its U.S. credit rating for the first time in history during the 2011 debt ceiling crisis, which prompted the passage of the Budget Control Act of 2011 to cut spending and identify ...
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
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In 2011, the ratings agency Standard & Poor’s stripped the U.S. of its prize AAA rating after a prolonged fight over the government's borrowing limit. The Government Accountability Office, in a ...