But if one of the major ratings agencies says the U.S. is no longer AAA and a recession looms, what will happen to the U.S. debt?
France is now widely considered next in line after the U.S. to lose its AAA bond rating.
Meanwhile, four U.S. companies maintain a AAA rating, and therefore, rank higher than the United States in credit-worthiness.
It has warned that it will lower the U.S. credit rating from AAA if no deal is reached come Jan. 1.
According to AAA, a year ago the average price for a regular gallon of gas was $3.83; today it is $3.90.
Privately, Britain seems to be patting itself on the back for maintaining its own AAA rating.
It kept its AAA credit rating; GDP per capita climbed; inflation and unemployment are still low; and the dollar is strong.
However, it's unclear what effect the downgrade will have if the other two rating agencies preserve the government's AAA rating.
also AAA, abbreviation of American Automobile Association, attested 1902, American English, the year the organization was founded.