U.S. may lose Aaa rating? Traders passing around comments that were made about 2:30pm ET by Moody's.
Commenting on the U.S. government budget that was presented yesterday, Moody's called it a "small start to the big task of returning to a sustainable debt trajectory," and then went on to say:
"Unless further measures are taken to reduce the budget deficit further or the economy rebounds more vigorously than expected, the federal financial picture as presented in the projections for the next decade will at some point put pressure on the Aaa government bond rating."
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