"One of the largest ratings firms in China, Dagong Global Credit Rating, has cut the US sovereign rating from A- to BBB+. That puts the American economy on par with Peru, Colombia and Turkmenistan
“Deficiencies in the current US political ecology make it difficult for the efficient administration of the federal government, so the national economic development derails from the right track,” Dagong said, as quoted by Reuters.
“Massive tax cuts directly reduce the federal government’s sources of debt repayment, therefore further weakens the base of government’s debt repayment.”
In December, US President Donald Trump signed a law on tax cuts that will add $1.4 trillion to the $20 trillion national debt.
Washington will only raise the debt ceiling in the future, said Dagong. “The virtual solvency of the federal government would be likely to become the detonator of the next financial crisis.”"
Source:
https://www.rt.com/business/416096-us-economy-turkmenistan-china-credit/
