pretty good to me the news met with stiff resistance after all it s only the second time this is ever happened so why and why now. fitch says the downgrade is due to a steady decline in fiscal matters and what it calls governance issues but the u.s. has had a debt problem for quite some time and there have been shutdowns and rumors of shutdowns for decades now. , why now? joining us now to weigh in on this radiance impact and what it means to you and the investor of o leary ventures, mr. kevin o leary, welcome how big of a deal is a downgrade. is impossible to paint this with a positive brush, it is a big deal because anytime you have a rating agency downgrade your economy it s everything
it s a u.s. dollar, the treasury bill, the faith of the u.s. government to repay its bills. when we go to market around the world to issue debt to finance deficit of government there is less confidence. there is no other way to put it, if it downgrades again from aa to single-a that means it gets worse and if ever they would pay her bills in default on them that s when it s all over were so far from that but it s beginning of the crooks in that faith that you have to be concerned about. trey: i remember in a previous life sleeping on a couch in an office building on the capital missing holidays because we were in the throes of a shutdown. that s what i wanted to downgrade our credit worthiness when i started missing holidays
southwest suffer sweltering temperatures, nearly 100 million americans from california to florida are under heat alerts, parts of california, arizona, texas and oklahoma could have feels like temps in the triple digits, extreme heat returning to phoenix temperatures could reach above 110 degrees for the first time since breaking the 31 day streak last month cooler temperatures are expected to filter and by midweek. following through with his promise of punishing ukraine procedure owns in the military unleashing the deadly missile barrage on western ukraine this morning russia launched 70 drones initials from aircraft for the attack, six people were killed. i am marianne rafferty now back to saturday night in america. trey: welcome back to sunday night in america , the fitch downgraded the u.s. debt rating from aaa to aa plus, sounds
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