Moody's pressures Congress to deal with deficit

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) -- Moody's Investors Service says Congress must go beyond its deal this week and come up with a plan to shrink the budget deficit if it wants to keep the U.S. government's top credit rating.

The credit rating agency says in a statement that it expects lawmakers in the coming months will take additional steps needed to lower the deficit, which has topped $1 trillion annually in each of the past four years. But if it fails to do so, the government's "Aaa" credit rating could be at risk.

Moody's had warned in September that it would likely cut its rating by one notch if the year-end budget negotiations failed. Moody's has a negative outlook on the government's debt, a warning of a possible downgrade.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
KKCO NBC 11 News
2531 Blichmann Avenue
Grand Junction, CO 81505

Station Phone: 970.243.1111
Business Fax: 970.243.1770
Newsroom Fax: 970.245.3793
News Tip & Contest Line: 970.255.8477
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 185466632 - nbc11news.com/a?a=185466632
Gray Television, Inc.