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Podcast: Let's Appreciate
Episode: The U.S. Credit Rating Downgrade
Description: That meant despite the 2011 S&P downgrade, the US was still a AAA country. But now with the downgrade today, it is no longer the case.
expected fiscal deterioration over the next three years
the government lacks a medium-term fiscal framework, unlike most peers, and has a complex budgeting process.
only limited progress in tackling medium-term challenges related to rising social security and Medicare costs due to an aging population.
Over the next decade, higher interest rates and the rising debt stock will increase the interest service burden, while an aging population and...