Reported 1 day ago
The United States has lost its top credit rating for the first time, dropping to Aa1 from Aaa due to concerns over rising debt levels and the impact of President Trump's proposed tax cuts. Moody's cited the U.S. government's increasing debt and interest ratios as reasons for the downgrade, which adds pressure to the nation's fiscal stability. Additionally, Trump's tax proposals could worsen the budget deficit significantly over the next decade, leading to higher borrowing costs and risking further downgrades.
Source: YAHOO