Implications of a US Downgrade It appears that politicians in Washington, D.C., are moving closer to a deal that would extend the ability of the government to borrow money beyond August—preventing a default on U.S. government bonds or other obligations. But even if the U.S. debt ceiling is raised, a short-term deal that does little to raise revenue or cut spending might result in a downgrade of the country's long-term debt Moody’s and Standard & Poor’s might decide that the failure to produce a longer-term solution to the U.S. debt burden indicates that the country's debt is riskier and its credit rating must be ... (full story)