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Fitch: No Fiscal Honeymoon for President Obama
The newly re-elected US President Barack Obama will need to quickly secure agreement on avoiding the 'fiscal cliff' and raising the debt ceiling following Tuesday's elections, Fitch Ratings says. The economic policy challenge facing the President is to put in place a credible deficit-reduction plan necessary to underpin economic recovery and confidence in the full faith and credit of the US. Resolution of these fiscal policy choices would likely result in the US retaining its 'AAA' status from Fitch. As reflected in the Negative Outlook on the rating, failure to avoid the fiscal cliff and raise the debt ceiling in a ... (full story)
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