Moody’s: U.S. can forget about Triple-A rating if it violates debt ceiling

The Treasury is running out of time and money. [Moody’s]

 

The U.S. will lose its Triple-A rating if it violates the debt ceiling, even if it quickly acts to meet its obligations, a rating agency said Tuesday.

The U.S. is facing a looming deadline to raise the debt ceiling, and there’s concern that despite the insistence of figures including Treasury Secretary Steven Mnuchin and House Speaker Paul Ryan, it won’t get lifted in time. The Treasury has estimated it will reach the debt limit by Sept. 29. Continue reading