Moody’s and Standard & Poor’s warned the U.S. could lose its top credit rating unless legislators get a handle on soaring debt.
Moody’s said the U.S. must control costs associated with pension and health care obligations to retain its Triple-A credit rating. The agency also expressed concern at an apparent lack of support for the tough measures recommended by the President Obama’s U.S. National Commission on Fiscal Responsibility and Reform.
Standard & Poor’s agreed that America’s high credit rating is in jeopardy, citing the jobless nature of the economic recovery as a factor in the nation’s failure to control soaring debt ratios.
Also on Wednesday, a poll released by Reuters/Ipsos shows that 71% of Americans oppose a proposal to raise the country’s debt limit.