Chinese Agency Downgrades US Credit Rating

Dagong lowered its ratings for U.S. credit from A to A-, maintaining a negative outlook, the agency said in a statement.  Dagong is far less prominent than its Western competitors including Moody's, Fitch, and Standard and Poor's.  On Tuesday, Fitch issued a "warning," not a down grade to the U.S. credit status if the debt crisis was not resolved.  Of course, the debt crisis has not been resolved, simply put off until February.  Those two agencies, Dagong and Fitch, are foreign rating agencies.  Fitch is a French concern.  I find it very interesting that the two rating agencies that have spoken out about the credit worthiness of the U.S. are foreign entities.  I guess Moody's and Standard and Poor's were too afraid of any negative consequences from our government if they came out with a so-called negative warning. 

Does anyone really believe that at a debt level of $17 trillion plus that our country can continue to go down this path of ever expanding levels of debt, or, for that matter, kick the proverbial "debt can" down the road forever without a resolution?