Moody's credit ratings agency has downgraded the United States, stripping it of its last perfect AAA rating, due to escalating debt levels that have reached $36 trillion, representing nearly 120% of the country's GDP. This downgrade marks a pivotal moment as it highlights growing concerns over the government's fiscal responsibility and the increasing costs associated with servicing this debt. Amidst this financial climate, President Donald Trump is advocating for a significant tax cut bill, raising concerns among critics regarding the potential for additional debt and deficits.
The United States has officially lost its AAA credit rating from Moody's, marking a significant downgrade driven by mounting national debt and debt service costs.
Moody's has downgraded the U.S. credit rating due to a staggering $36 trillion debt, highlighting concerns over the country's fiscal health and future budgetary challenges.
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