Government shutdown could jeopardize U.S credit rating, Moody's warns
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The U.S.' credit worthiness is one of its most prized fiscal assets, with global investors relying on the guarantee that the nation can make good on its debts. But now, a leading credit agencies is warning that a possible federal government shutdown this week could tarnish the country's gold-plated rating. Time is running out for for House Speaker Kevin McCarthy to find a compromise to keep government agencies running and to avoid a shutdown on October 1, the first day of the new fiscal year. If McCarthy and other Republicans are unable to find a solution, funding would expire on September 30 and many agencies would be forced to halt some of their operations . Hundreds of thousands of federal workers also wouldn't draw a paycheck until the crisis is resolved. With Congress divided between a Democratic-controlled Senate and Republican-led House — and with some far-right conservatives looking to use the shutdown as leverage to force government spending cuts — m...