- 27 Feb 2013 at 3:12 PM
While triggering the U.S. spending cuts known as the sequester and a government shutdown won’t prompt a ratings downgrade, those outcomes “erode confidence” of achieving deficit reduction needed to sustain the nation’s top credit grade, according to Fitch Ratings.
In other words, don’t make these $1.3 trillion in budget cuts because it makes you look like a banana republic. But do cut the deficit by $1.6 trillion. Either way, we probably won’t downgrade you because we’d rather not be sued for everything and more.
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