The rating agency on Friday said it is keeping its rating for short-term U.S. debt at “A-1+” and for long-term debt at “AA+.”
Federal deficits, while still large, have fallen sharply from the $1 trillion-plus deficits of President Barack Obama’s first term. Still, S&P warns — as rating agencies have done frequently in recent years — that the political brinksmanship in Washington over the federal budget looms as a problem. S&P said it expects the deficit to rise toward the decade’s end unless there are new measures to raise revenue or cut spending.
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