Moody’s strips US of top credit rating amid soaring debt crisis
Moody’s forecasts the federal deficit will rise to nearly 9% of GDP by 2035, fuelled by rising interest payments, entitlement spending, and insufficient revenue. | Photo Credit: iStockphoto Moody’s Ratings stripped the U.S. government of its top credit rating Friday, citing successive governments’ failure to stop a rising tide of debt. Moody’s lowered the rating…