Treasury: credit warning a sign of urgency in debt debate

Reuters

WASHINGTON, Oct 15 (Reuters) - The U.S. Treasury said onTuesday the threat of a credit rating downgrade is a reminderfor U.S. lawmakers that the United States is dangerously closeto defaulting on its obligations.

Fitch Ratings warned earlier in the day it could cut thesovereign credit rating of the United States from AAA, citingthe political brinkmanship over raising the federal debtceiling.

"The announcement reflects the urgency with which Congressshould act to remove the threat of default hanging over theeconomy," a Treasury spokesperson said.

Rates

View Comments (1)