Moody's: We Still Might Downgrade US, Too
Credit agency insists on more cuts
By Kevin Spak,  Newser Staff
Posted Aug 8, 2011 7:32 AM CDT
Updated Aug 8, 2011 7:52 AM CDT
The US will have to find more deficit reductions, Moody's said today.   (Shuttestock)

(Newser) – Moody’s may have already reaffirmed America’s AAA credit rating, but it released a statement today reiterating that that could still change. If the US doesn’t find more deficit reductions pronto, it could face a downgrade before 2013, the agency warned, according to Reuters. Analyst Steven Hass wrote that he’d like to see the ratio of government debt to GDP peak at about 75% by the middle of the decade.

“Last week's agreement [on the debt ceiling] suggests that coming to an agreement that would meet this criterion by early 2013 will be challenging, given the political polarization,” Hass wrote, “but not necessarily impossible.”