Moody's Ratings has downgraded the US government's credit rating from Aaa to Aa1, primarily due to ongoing large fiscal deficits and increasing debt levels that successive administrations have failed to address. Despite this significant move, Moody's acknowledged the US's economic strengths, including its resilient economy and the dollar's status as a global reserve currency. Projections indicate that by 2035, federal deficits could reach 9% of the GDP, exacerbated by rising entitlement spending and low revenue generation. This downgrade complicates Trump's tax cut agenda, as the deficit grows due to additional fiscal measures.
Moody's has stripped the United States of its top credit rating, citing the persistent issue of rising debt and the inability of successive administrations to address fiscal deficits.
Moody's lowered the US credit rating from Aaa to Aa1, highlighting concerns over increasing federal deficits projected to reach nearly 9% of the economy by 2035.
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