Moody's Investors Service said Tuesday that the United States will retain its triple-A bond rating following passage of legislation to boost the debt ceiling. But the agency put a "negative" outlook on the rating, raising the specter of a future downgrade.
President Barack Obama and top congressional leaders have sealed agreement on a plan to pair an increase in the nation's $14.3 trillion borrowing limit with spending cuts and to create a special committee to recommend bigger savings for a vote later this year.
House Speaker John Boehner says the pact he's reached with President Barack Obama and other leaders of Congress on lifting the debt limit and taming the budget "isn't the greatest deal" but lives up to the GOP's principles on taxes and spending.
In a last-minute stab at compromise, Republican congressional leaders and the White House made significant progress Saturday toward a deal to avert a government default threatened for early next week, according to officials familiar with the talks.