'No risk' the US will lose its top credit rating, says Treasury's Geithner

[I AM NOT THAT GUY 5,715]

Treasury Secretary Tim Geithner said Tuesday there is "no risk" the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to "negative."

Geithner took to the airwaves of financial news networks to push back against a report Monday by Standard & Poor's that lowered its outlook on U.S. debt to "negative," reflecting political uncertainty over whether lawmakers will reach an agreement to address long-term debt.

There is no chance that the U.S. will lose its top credit rating, Geithner said, forcefully disputing the notion that S&P or other ratings services might downgrade U.S. bonds from their current AAA rating.

"No risk of that, no risk," Geithner said on the Fox Business Network.

Geithner said he would prefer Congress authorize a substantial increase in the debt ceiling, though the secretary said the administration would defer to Congress in making the ultimate determination....you'd have to raise the debt limit by probably $2 trillion over the next 18 months to get through this...

The administration announced Monday that Vice President Joe Biden would spearhead those negotiations in a summit May 5 at Blair House, though it's not clear whether Republicans on Capitol Hill intend to participate...

Congress last authorized an increase in February 2010, raising the limit by $1.9 trillion to a total of $14.3 trillion.

http://thehill.com/blogs/on-the-money/budget/156747-geithner-no-risk-that-us-loses-its-top-credit-rating

[Vi-Jay 218]

Treasury Secretary Tim Geithner said Tuesday there is "no risk" the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to "negative."

Geithner took to the airwaves of financial news networks to push back against a report Monday by Standard & Poor's that lowered its outlook on U.S. debt to "negative," reflecting political uncertainty over whether lawmakers will reach an agreement to address long-term debt.

There is no chance that the U.S. will lose its top credit rating, Geithner said, forcefully disputing the notion that S&P or other ratings services might downgrade U.S. bonds from their current AAA rating.

"No risk of that, no risk," Geithner said on the Fox Business Network.

Geithner said he would prefer Congress authorize a substantial increase in the debt ceiling, though the secretary said the administration would defer to Congress in making the ultimate determination....you'd have to raise the debt limit by probably $2 trillion over the next 18 months to get through this...

The administration announced Monday that Vice President Joe Biden would spearhead those negotiations in a summit May 5 at Blair House, though it's not clear whether Republicans on Capitol Hill intend to participate...

Congress last authorized an increase in February 2010, raising the limit by $1.9 trillion to a total of $14.3 trillion.

http://thehill.com/blogs/on-the-money/budget/156747-geithner-no-risk-that-us-loses-its-top-credit-rating

Although, this is a very benenificial article.....\

The masses of VJ... poop on it!

[mawilson 2,133]

[I AM NOT THAT GUY 5,715]