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BBCNEWS World July 4, 2024

Remember thatjust like most americans who have credit records when they want to borrow money and find out how much debt they can take on, the Us Government also gets a credit rating. When it gets downgraded like this, the potential long term effect as it could push up the cost for the Us Government of borrowing money, and in turn that might long run push up taxes, it could mean less spending by the government and could mean fewer government and could mean fewer government programmes in the future. We are not there yet, but that is the underlying fear. If you look at what they are trying to address here in this downgrade, or one of the concerns they cite, it is a problem that exists both in the past but also in the future, and that is rising Us Government debt. At the moment
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BBCNEWS World Business Report June 4, 2024 13:32:00

The us economy at some point. with that in mind, with this problem in sight, and with the political disunity we have seen and with the government showing no signs of being able to address this problem, that is what fitch is trying to point out here. the question is, and the reason you get the response you have from the likes of treasury secretary janet yellen, is this isn t unknown, this has been an issue for a while, and so i think people like janet yellen but also other economists including larry summers, are questioning the timing of this. i questioning the timing of this. i said in that introduction it is an unexpected blow to the world s biggest economy but those who follow this closely, say the american economy claimed poster the brink couple of months ago. and we have seen the knock on effect in terms of confidence. as you would expect, we have seen markets in asia, europe ....

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