In April Treasury Secretary Timothy Geithner told FOX Business News, “There’s no chance the US will lose top credit rating.”
Obviously, Timothy Geithner was wrong about this too.
The Hill reported:
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.
Hat Tip Bill Hennessy