The US has lost its triple-A credit rating from a major agency as mounting government debt led congressmembers said the action is a reminder that the 'nation's fiscal house is not in order.'

The US was stripped of its last top credit rating by Moody’s Ratings, reflecting deepening concern that ballooning debt and deficits will damage America’s standing as the preeminent destination for global capital and increase the government’s borrowing costs.

Credit rating agency sees no real effort by government to cut spending, expects fiscal performance to deteriorate, and Trump’s tariffs to significantly hurt nation's long-term growth