The new plans would cut the deficit by an additional $1 trillion, the US Treasury Secretary said. (Photo: AFP)
WASHINGTON: Ratings agency Fitch put the United States on notice Wednesday that its perfect credit rating could be jeopardised if the White House and Republican opposition fail to overcome their impasse on raising the nation’s borrowing limit, a week before a key deadline.
Fitch placed the country’s AAA-ranked credit on “rating watch negative” — a move it said “reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit” before June 1.
That is the “X-date” when the US Treasury Department says that — short of an agreement — the government will run out of money,…
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