(US Faces Credit Rating Downgrade by Three Top Firms This Year)Moody's senior credit officer declared, "To support the triple-A rating, further measures to reduce deficit levels are needed." In other words, we're facing a second downgrade unless entitlement reform happens this year.
Both S&P (who downgraded us last year) and Fitch's have a negative outlook on US debt, which the administration itself projects will hit $25 trillion by 2022. Unless changes are made on entitlements, both agencies could follow Moody's and issue a downgrade before year's end.(MORE)