A credit rating agency’s report on the upcoming presidential election noted that whoever wins must address tax and spending policies that contribute to the nation’s growing deficit.
Moody’s issued a report last week on the potential credit risks from the upcoming presidential election. Among the concerns: Debt. The report noted that Vice President Kamala Harris or former President Donald Trump must contend with debt and deficit issues.
“The administration’s tax and spending policies will affect the size of future budget deficits and the expected decline in U.S. fiscal strength, which could have a significant effect on the U.S. sovereign credit profile,” the report warned.
The next president will take over the nation’s $35.2 trillion in debt.
“The incoming administration will face a deteriorating U.S. fiscal outlook, as declining debt affordability will gradually weaken U.S. fiscal strength,” according to the report. “In the absence of policy measures that can curb these trends and help limit fiscal deficits, deteriorating fiscal strength will increasingly weigh on the U.S. sovereign credit profile.” […]
— Read More: justthenews.com
