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We are not exactly sure what all of this means, except that America is almost officially bankrupt instead of "bankrupt but in name only."
(Reuters) - The United States probably wouldn't be able to maintain its prized AAA sovereign ratings status if it suffered even a "technical" default on its debt, Fitch Ratings said on Wednesday.
The rating agency also warned it would downgrade the U.S. sovereign ratings to "restricted default" in August if the government fails to honor Treasury notes and some coupon payments on Treasury securities due on August 15.
Is "Fitch" the one with the cat, Mrs. Norris? Will we all be petrified and sex-abused in his Dungeon, because of debt? [ Reuters ]
United States Gov't Sorry About Credit Card Not Going Through, Will Try This Other One
Florida, meet 8 Mile. That just became the worst place on earth. Sorry, Disney.
Too bad members of Congress weren't personal cosigners on all that debt.