/ world today news/ Yesterday, the international credit rating agency DBRS added the AAA rating of the United States as a long-term foreign and local currency issuer to its negative watch list. This represents the agency’s concern about the risk that the US Congress will fail to raise or suspend the debt ceiling in a timely manner. If no action is taken, the federal government will not be able to meet all of its payment obligations.
DBRS also indicated that the selective default of the United States’ debt could lead to a downgrade of the country’s financial institutions. If no agreement is reached on the debt ceiling, it will exacerbate the economic downturn and make it harder for consumers and businesses to get credit. All this will further harm the economy.
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