The market is not really supposed to react to reminders via opinion
, say “huh, yeah, they make some good points,” and trim your allocation to US Treasuries. “The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to 'AA' and 'AAA' rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions,” says Fitch.
the US in May, putting it on a negative ratings watch because Congress had not yet worked out a debt-ceiling deal and was running out of time, and then actually downgraded the US in August after Congresswork out the deal and averted a near-term default, but I take their general point.
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