Moody’s has downgraded the United States’ credit rating from the highest level (AAA) to one notch below, Aa1. The reasons cited for the downgrade include weak fiscal management in Washington, massive deficits, and a sharp rise in interest payments on the national debt, which has reached approximately $36 trillion. For the first time in history, the United States no longer holds the highest credit rating from all three major agencies, after Fitch and S&P also issued downgrades in the past.