by Wolf Richter, Wolf Street:

Second major US ratings agency to downgrade the US to ‘AA+’. The first rating agency got whacked by the US government.

Following the shocker of an announcement by the Treasury Department yesterday that it would have to borrow $1 trillion in the quarter through September and another $852 billion in the quarter through December, on top of the $32.6 trillion the government already owes,  Fitch Ratings threw in the towel today and became the second major US rating agency to downgrade the US of A.