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Wall Street Shrugs Off Downgrade From Moody’s

Bloomberg Businessweek

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Credit Rating Downgrade and Its Economic Fallout

This chapter examines the recent downgrade of the U.S. credit rating by Moody's and its immediate effects on the bond market, particularly the surge in long-term yields. It highlights rising concerns over the U.S. budget deficit, increasing debt, and the implications for federal spending priorities, including critical areas like defense and Social Security. The discussion emphasizes the pressing need for fiscal discipline amidst a politically charged environment and warns about the potential impact of these financial changes on American households.

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