The US credit rating has been downgraded. But there’s an easy fix for our debt

‘When the debt is downgraded because Trump Republicans are planning another big tax cut mainly benefiting the rich and big corporations, most Americans could end up paying in three different ways.’ Photograph: Nathan Posner/Shutterstock

On Friday, the credit rating of the United States was downgraded. Moody’s, the ratings firm, announced that the government’s rising debt levels would grow further if the Trump Republican package of new tax cuts were enacted. This makes lending to the US riskier.

Moody’s is the third of the three major credit-rating agencies to downgrade the credit rating of the United States.