US could lose AAA credit rating

This threat has been articulated by this blogger a few times, despite the possibility being "unthinkable" by the mainstream financial press--at least until now. Fitch, one of the major credit ratings agencies, just issued a warning on the possibility of the US losing its AAA credit rating.

http://www.telegraph.co.uk/finance/economics/6969163/US-must-cut-spending-to-save-AAA-rating-warns-Fitch.html

Fitch Ratings has issued the starkest warning to date that the US will lose its AAA credit rating unless acts to bring the budget deficit under control, citing a spiral in debt service costs and dependence on foreign lenders.