Joseph Lavorgna, SMBC Nikko Securities Chief US Economist & Former Chief Economist of the National Economic Council, discusses Moody's downgrading the United States to a AA1 credit rating from a triple A. Lavorgna shares his thoughts on the tax bill as Moody's reasoning behind the downgrade and questions the timing of this announcement. He speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power." -------- More on Bloomberg Television and Markets Like this