The United States government lost its last AAA credit rating Friday evening with Moody’s Ratings downgrading the country to AA+, citing in part rising debt burdens.
“This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,” Moody’s said in a statement.
Other major ratings agencies, Standard & Poor’s and Fitch Ratings, downgraded the United States to AA+ from AAA in 2011 and 2023 respectively.
The credit downgrade comes as Republican lawmakers are seeking to pass a massive tax and spending package through Congress, known as President Donald Trump’s “one big, beautiful bill.” Fiscal hawks, including Republican Texas Rep. Chip Roy and Republican Wisconsin Sen. Ron Johnson, have warned the budget package will further add to the deficit.
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org
Biden and his cronies are trying to take credit for Trump’s Middle East peace deal.…
Day after day, we are faced with the faces of the Democrats and their daily…
The China trade war is escalating. Or is it? We have until Nov. 10 to…
Democratic and Republican candidates in an artificial intelligence (AI) hotspot have floated the idea of…
A rising array of threats to the public and environment stemming from the boom in…
Office of Management and Budget Director Russ Vought said Wednesday that the Trump administration plans…