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US loses last perfect credit rating amid rising debt (www.bbc.com)

submitted 7 months ago by rssbot@lemmy.bestiver.se to c/hackernews@lemmy.bestiver.se

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[–] raltoid@lemmy.world 10 points 7 months ago* (last edited 7 months ago) (1 children)

This part is relevant, and shows that it is not reactionary or just based on recent events:

Moody's warned in 2023 the US triple-A rating was at risk. Fitch Ratings downgraded the US in 2023 and S&P Global Ratings did so in 2011.

[–] Jason2357@lemmy.ca 6 points 7 months ago

Every time they played chicken with the debt ceiling, they were warned this was coming.

[–] Ptsf@lemmy.world 1 points 7 months ago* (last edited 7 months ago)

We pay 1 out of every 5 us dollars collected in (federal) taxes to interest on this debt. It's absolutely insane how many people/companies in America who likely haven't paid their fair share of taxes are making a killing off of our debt (because US debt for the most part is owned by US citizens, companies, and banks with an addmitedly sizable but overall trivial portions owned by foreign nations/nationals).