CNN
—
After the United States lost its last perfect credit rating on Friday, Republicans and Democrats responded by pointing fingers at each other.
Moody’s Ratings said problematic debt levels far outpacing government revenue led to the downgrade. Now, it’s up to lawmakers on both sides to take actions to improve the nation’s fiscal situation, or another downgrade could be in the cards. And that one would likely be even more painful.
Yet, days later, House Republicans on the Budget Committee voted to advance a sweeping legislative agenda that could worsen the fiscal picture, adding over $1 trillion to annual deficits by 2034 compared to 2024, according to preliminary estimates from the nonpartisan Committee for a Responsible Federal Budget.
However, it’s far from a done deal, as it…
