Reported 1 day ago
Moody's has downgraded the U.S. credit rating from Aaa to Aa1 due to persistent fiscal deficits and an increasing debt burden, indicating a deteriorating financial outlook. The agency highlighted the federal government's inability to address large annual deficits and the growing costs associated with entitlement programs, despite maintaining a stable outlook. This downgrade follows a similar action by Fitch in August 2023, emphasizing ongoing concerns over the nation's fiscal responsibility.
Source: YAHOO