Yesterday American business and financial services company Moody's posted a bleak outlook for the economy.
In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues. Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.Continued political polarization within US Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability.
No kidding.
