According to online reports, White House Press Secretary Levitt said that Trump disagreed with Moody's assessment. Moody's previously downgraded the U.S. sovereign credit rating from Aaa to Aa1, and adjusted its outlook to "stable." The reason for the downward adjustment is that the government debt and interest payment ratio continues to rise, and the fiscal deficit is expected to be close to 9% of GDP by 2035. This is the first time Moody's downgrade of the United States since 1917, and the United States has lost all the top AAA ratings from the three major credit rating agencies.