Neither major party presidential candidate has a plan to reduce the size of the national debt, and both candidates were part of administrations that produced larger deficits. Credit rating agency Moody’s recently warned that the United States must “grapple with widening budget deficits.”
“The incoming administration will face a deteriorating U.S. fiscal outlook, as declining debt affordability will gradually weaken U.S. fiscal strength. In the absence of policy measures that can curb these trends and help limit fiscal deficits, deteriorating fiscal strength will increasingly weigh on the U.S. sovereign credit profile.”
—Moody’s Ratings, September 24, 2024
What are the broader financial implications of this situation for American retirees?
Watch this video for exclusive executive insights on this topic from Edmund C. Moy, 38th Director of the U.S. Mint and Senior IRA Strategist for U.S. Money Reserve.
Related headlines from around the web:
- The Wall Street Journal: “Federal Debt Is Soaring. Here’s Why Trump and Harris Aren’t Talking About It.”
- Bloomberg: “Deteriorating U.S. Fiscal Deficit ‘Positive' for Gold, UBS Says”
- Reuters: “Record run steers gold to best quarter in four years”
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Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
