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Brinkmanship

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politics3 years ago

Fitch warns of potential downgrade for US credit rating amid debt ceiling impasse.

The US credit rating is at risk of being downgraded due to the ongoing political brinkmanship over the debt ceiling. Failure to raise the debt ceiling could result in a default on US debt, which would have severe consequences for the global economy. The US has already seen its credit rating downgraded once before in 2011, and a repeat of this would have significant implications for borrowing costs and investor confidence.