The U.S. economy's sheer scale, high per-capita income and the dollar's unmatched reserve currency status make the AA+ rating a sign of enduring economic strength. A dynamic business environment gives America a resilience that few nations can match. Fitch's stable outlook confirms there's no near-term downgrade risk, in spite of fear-mongering from other agencies.
This is nothing to celebrate when the deficit explodes and Medicare and Social Security costs keep climbing. Growth is slowing, job creation has dropped sharply and inflation won't hit the target until 2028. Political gridlock makes a bad fiscal picture even harder to fix, as even the vice president voices opposition to the dollar as the world's reserve currency.
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