- Anticipates further US fiscal action in coming months
- Further measures needed if outlook to return to stable
- Lack of more cuts could affect rating negatively
- Estimates US debt-to-GDP peaking at about 80% in 2014
- More medium-term actions may be needed to support Aaa rating
None of this comes as any surprise but it’s a reminder that the fiscal cliff deal closes one chapter in the US book of dysfunctional politics and opens another.
