Peterson Foundation Statement on Moody’s Downgrade
Peterson Foundation Statement on Moody’s Downgrade
Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today on the downgrade of the U.S. credit rating by Moody’s.
“For those looking for a signpost to tell us when to stop adding to our national debt, they should look no further than Moody‘s downgrade. It’s unacceptable for a great country like America to harm its own credit rating. We have plenty of options on the table to fix this, and it can be done quickly, with leadership.”
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ABOUT THE PETER G. PETERSON FOUNDATION
The Peter G. Peterson Foundation is a nonprofit, nonpartisan organization that is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America's future, and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. To learn more, please visit www.pgpf.org.
Further Reading
Moody’s Downgrades U.S. Credit Rating, Warns Recent Policy Decisions Will Worsen Fiscal Outlook
For the first time, all major credit ratings agencies have downgraded U.S. credit below their top rating.
New Report: Rising National Debt Will Cause Significant Damage to the U.S. Economy
On all key financial metrics, from GDP and investment to jobs to wages, the growing national debt harms future economic prospects for American citizens.
The Federal Government Has Borrowed Trillions. Who Owns All that Debt?
Most federal debt is owed to domestic holders, but foreign ownership is much higher now than it was about 50 years ago.