• @humanspiral@lemmy.ca
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    316 days ago

    https://ratings.moodys.com/ratings-news/443154

    Other agencies downgraded during past debt ceiling showdowns.

    we expect federal deficits to widen, reaching nearly 9% of GDP by 2035, up from 6.4% in 2024

    Both numbers are well above escape velocity for sustainability with overall Debt above GDP, and nominal GDP growth not coming anywhere close to the deficit levels.