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The nation's credit rating, now at AA+, will not be impacted by the Congressional super-committee's failure to cut $1.2 trillion from the federal deficit. From announcement (via Marketbeat):
The Fiscal Committee's inability to agree on fiscal measures that would stabilize U.S. government debt as a share of GDP is consistent with our Aug. 5 decision to lower our rating to 'AA+'. However, we expect the caps on discretionary spending as laid out in the Budget Control Act of 2011 to remain in force. If these limits are eased, downward pressure on the ratings could build.
No word yet from the other ratings agencies.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.