Moody's downgraded the United States' credit rating from Aaa to Aa1, driven by concerns over the $36 trillion debt and increasing interest costs. This marks the first downgrade by Moody's since 1949 and follows a similar downgrade by Fitch. The article emphasizes the inability of past administrations to manage continual fiscal deficits, which have led to soaring debt levels amid tax cuts and rising spending. The downgrade could complicate President Trump's tax cut efforts, emphasizing the need for significant policy changes to reverse the trend of growing debt.
"Moody's downgraded the US credit rating from Aaa to Aa1, citing rising debt and higher interest costs compared to similarly rated sovereigns."
"This downgrade marked the first change in Washington's credit score by Moody's since 1949, reflecting ongoing issues with budget deficits and fiscal management."
Collection
[
|
...
]