Yesterday, the federal debt was seen on USDebtClock.org as quickly and inexorably inching towards $36.9 trillion. The official budget deficit is over $2 trillion. And Moody’s made, on Friday, an adjustment in its ratings, stripping “the US of its top-notch triple‑A credit rating as it warned about rising levels of government debt and a widening budget deficit in the world’s biggest economy.”
Now, none of the major ratings agencies bestows upon the federal government the top rating. “For the first time in history, the US does not hold a triple‑A credit rating from at least one of the three big agencies. S&P in 2011 was the first to strip the country of its pristine rating, while Fitch took the move in 2023.”
Meanwhile, the president boasts of a record one trillion dollar military budget.
And Congress’s DOGE caucus, formed to back up DOGE cuts, is apparently dead.
Insolvency brinksmanship seems to be going gung ho ahead.