Going down (further)

Moody's Ratings cut its credit rating on the United States by one notch on Friday, citing an increase in government debt and interest payment ratios.

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The Moody's downgrade to Aa1 removes the U.S. government's last remaining triple-A credit rating, diminishing its status as the world's highest-quality sovereign borrower.

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"Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs."

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It said it expects deficits to rise over the next decade, driven by rising entitlement spending and little change to government revenue.

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If the 2017 Tax Cuts and Jobs Act is extended, which Moody's called its "base case," it expects around $4 trillion to be added to the federal fiscal primary deficit over the next decade.

It sees federal deficits widening close to 9% of GDP by 2035, up from 6.4% in 2024, and the federal debt burden to hit around 134% of GDP by 2035, compared to 98% last year.

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S&P Global Ratings removed its triple-A credit rating on the U.S. in 2011, while Fitch Ratings did the same in 2023.

  Axios

UPDATE 05/18/2025:

And Trump doesn't put much credence in courts that rule against him.

This is the pick and choose administration.