An increasingly unstable fiscal outlook and an elected government that won't do anything about it have triggered America's second-ever credit rating downgrade.
Fitch Ratings downgraded the U.S. government's credit rating from "AAA" to "AA+" on Tuesday afternoon, signaling to investors that America's Treasury bonds are a qualitatively less ideal purchase. In its announcement, Fitch said the downgrade reflected the federal government's growing mountain of debt and the country's fraught political dynamics—most recently evidenced by the brinksmanship over the debt ceiling that nearly triggered a default on the national debt.
