U.S. could face downgrade if Congress dodges deficit

05/28/2012 | Hill, The

The U.S. could be in for a downgrade if Congress avoids action on the federal deficit this year, rating agencies are warning. Insiders expect lawmakers to reach a temporary agreement on the debt limit and expiring tax cuts during the late-year lame-duck session, leaving more comprehensive reform for next year. "We'd have to assess the actual content of any temporary agreement," said Steven Hess, lead analyst for U.S. ratings at Moody's Investors Service.

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Hill, The

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