Moody’s, S&P Warn U.S. Debt Will Harm Credit Rating

Liberty Alerts, Matt Cover, CNSNews.com

Credit rating agencies Moody’s and Standard and Poor’s (S&P) have warned that record levels of federal debt would eventually damage the government’s AAA credit rating, a move that would make further borrowing more difficult.

Moody’s, in its most recent update of borrowing conditions for AAA-rated sovereign debt, said that if the United States does not take action to reform entitlements and control deficit spending, it could lose its coveted AAA rating, which denotes that U.S. debt is the safest type of investment.

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