US plays down future debt ratings downgrade

US TREASURY Secretary Timothy Geithner reassured investors that White House and Republican lawmakers will reach a deal to control the nation’s finances, downplaying a warning that the government risks losing its coveted debt rating if it fails to do so.

Geithner said he disagrees with Standard & Poor’s decision to lower its long-term outlook for the federal government’s fiscal health. The credit agency warned the government could lose its top credit rating in the next two years if lawmakers fail to come up with a long-term plan to bring down the deficit.

“We are not going to get behind this problem; we’re going to get ahead of it,” Geithner said.