Even Uncle Sam needs to make his payments on time or risk taking a hit on his credit rating. Moody’s is reviewing the U.S. government’s Aaa government bond rating, and could downgrade it if government gridlock fails to raise the federal debt ceiling. The government has reached its $14.2 trillion debt limit and lacks congressional authority to borrow more to pay its bills, according to the Treasury Secretary, starting Aug. 2. [More]
