Commentary
Recently, Moody’s Investors Service became the final major bond rating agency to strip the United States of its coveted AAA credit rating. Citing the ballooning national debt, chronic budget deficits, and the burden of rising interest rates, Moody’s downgraded U.S. debt to Aa1—placing the United States on par with Austria and Finland, and below countries such as Germany, Switzerland, and Canada that carry the highest rating.
