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Tag: congressional budget authority
Moody’s Downgrades U.S. Credit Rating: Analyzing the Legal and Policy Implications of a Nation’s Debt Crisis
On May 19, 2025, Moody's Investors Service downgraded the United States’ credit rating, citing the rising national debt and unresolved fiscal challenges. This downgrade marks a significant moment in American economic policy, as the credit rating, historically considered a bedrock of financial stability, faces its first reduction in more than a decade. The downgrade comes amid concerns about unsustainable fiscal policy, a growing deficit, and the failure of successive administrations to address the mounting national debt. This article explores the legal, constitutional, and policy implications of Moody's decision, focusing on the tensions it raises in U.S. fiscal law, public policy, and its broader impact on both domestic and international financial systems.