Is the US Credit Rating Downgrade a Nothingburger?
The Breakdown
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The Fitch Ratings Agency's Decision to Downgrade the United States Government
According to estimates, both the Social Security Fund and the Hospital Insurance Trust Fund, which pays for Medicare, will be depleted by 2035. Fitch also poured some cold water on recent improvements in macroeconomic indicators. They put forward a warning that they expect a mild recession to begin towards the end of this year.
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Transcript
