U.S. Rating May Be Cut by Moody’s If Debt-to-GDP Not Reduced

U.S. Rating May Be Cut by Moody’s If Debt-to-GDP Not Reduced

Joshua Roberts/Bloomberg

The U.S. is on course for a so-called fiscal cliff in which tax cuts enacted under President George W. Bush to expire at the end of this year and for more than $1 trillion of automatic spending reductions to take effect in January.