Moody’s Lowers U.S. Credit Rating to Negative, Citing Large Federal Deficits
On November 10, 2023, Moody’s Investors Service lowered its outlook on the United States’ credit rating from “stable” to “negative.”
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On November 10, 2023, Moody’s Investors Service lowered its outlook on the United States’ credit rating from “stable” to “negative.”
Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.
https://www.pgpf.org/infographic/the-national-debt-is-now-more-than-34-trillion-what-does-that-mean
"We are beginning a new year, but our national debt remains on the same damaging and unsustainable path," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for January 2024.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-january-2024
Tax breaks totaled over $1.8 trillion in 2023. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare and Medicaid.
https://www.pgpf.org/blog/2023/12/eight-of-the-largest-tax-breaks-explained
The end of 2023 marks another year that the country has failed to improve its daunting fiscal outlook.
The U.S. is experiencing an unusual and concerning phenomenon — the annual deficit is high even though the unemployment rate is low.
https://www.pgpf.org/blog/2023/12/why-is-the-federal-deficit-high-if-unemployment-is-low
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for December 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-december-2023
Fiscal year 2024 has already begun and lawmakers will need to find a permanent solution to continue funding government activities beyond the expiration of the CRs.
“As the national debt races toward $34 trillion, policymakers remain mired in short-term budget battles that do nothing to improve our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/11/fci-press-release