Geithner Flashback: “There’s No Chance US Will Lose Top Credit Rating” (Video)
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