DAVID GREENE, HOST: NPR's business news begins with a thumbs-up from Moody's.</s>DAVID GREENE, HOST: The rating agency Moody's Investors Service has upgraded the U.S. government debt. Moody's lifted it from negative to stable, and also affirmed the country's AAA rating. In a statement, it said the U.S. economy has demonstrated resilience in the face of major cuts to government spending. The country is on track to report its lowest annual deficit in five years.</s>DAVID GREENE, HOST: Now, Moody's lowered the outlook to negative two years ago but unlike Standard & Poor's, it did not strip the United States of its top credit rating.</s>DAVID GREENE, HOST: Still, Moody's had a warning. It said the government needs to control longer-term deficits as more baby boomers collect Social Security and Medicare.
Moody's lifted the rating from "negative" to "stable" and affirmed the country's AAA rating. In a statement, it said the U.S. economy has demonstrated resilience in the face of major cuts to government spending. The country is on track to report its lowest annual deficit in five years.