Treasury: credit warning a sign of urgency in debt debate

WASHINGTON (Reuters) - The U.S. Treasury said on Tuesday the threat of a credit rating downgrade is a reminder for U.S. lawmakers that the United States is dangerously close to defaulting on its obligations.

Fitch Ratings warned earlier in the day it could cut the sovereign credit rating of the United States from AAA, citing the political brinkmanship over raising the federal debt ceiling.

"The announcement reflects the urgency with which Congress should act to remove the threat of default hanging over the economy," a Treasury spokesperson said.

(Reporting by Jason Lange; Editing by Sandra Maler)

Source: http://news.yahoo.com/treasury-credit-warning-sign-urgency-debt-debate-211232563--business.html
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