What impact could the potential loss of the US's triple-A credit rating have?
McCarthy: We Could Get a Debt Deal at Any Time
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The transcript discusses ongoing negotiations in Washington, focusing on spending cuts for fiscal year 2024. Republicans aim to reduce spending, while Democrats are hesitant. Contingency plans are being considered by the Treasury in case of a default, with concerns about the U.S. credit rating. The potential impact of a credit downgrade is also discussed, referencing the 2011 precedent.
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What historical context did the speaker provide regarding the risk of a downgrade in credit rating?
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