Article Excerpt
BY DAMIAN PALETTA
Moody's Investors Service, in the latest reminder of the tense fiscal negotiations looming for Congress and the White House, said it could downgrade the U.S. government's credit rating next year if steps aren't taken to tackle the rising debt.
Specifically, it said if Congress repeals looming spending cuts and tax increases set to begin next year and doesn't replace them with large-scale deficit-reduction measures, the government would lose its top-notch rating.
The warning comes as Washington has become consumed with the November elections and talks of a bipartisan deal to reduce the deficit have mostly stalled. But after the elections ...
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