US Credit Rating Downgraded

On Friday evening, the US government officially lost its final AAA credit rating, with Moody’s adjusting the rating to AA+. The downgrade has been attributed to significant debt burdens.

“This unprecedented downgrade on the 21 Notch rating scale illustrates a prolonged rise in government debt and interest payment rates, which are now considerably higher than those of similarly rated sovereign nations,” Moody’s stated.

Other major rating agencies, such as Standard & Poor’s and Fitch Ratings, had already downgraded the US from AAA to AA+ in 2011 and 2023, respectively.

This credit downgrade comes at a time when Republican lawmakers are attempting to push through a substantial tax and spending package in Congress, referred to as President Donald Trump’s “One Big Beautiful Bill.” Finance Hawks like Texas Republican Senator Chip Roy and Wisconsin Republican Senator Ron Johnson have expressed concerns that this budget proposal will contribute to the growing deficit.

This is a developing news story and will be updated.