Posted on 08/02/2023 11:45:22 AM PDT by thegagline
President Biden's administration is placing the blame for the United States' drop in credit rating on former President Donald Trump and the Jan. 6 riots.
Fitch announced Tuesday it has officially downgraded the United States' long-term foreign-currency issuer default rating to "AA+" from "AAA," saying the downgrade "reflects the expected fiscal deterioration" and the nation's heavy debt burden.
An administration official claimed to FOX Business on Wednesday that the underlying model was AAA until former President Donald Trump's administration.
The administration official claimed the model dipped in the Trump-era and despite efforts since 2020, Fitch's change in consideration on a number of factors meant the model could not recover.
The official told FOX Business that Fitch repeatedly cited Jan. 6 as a factor in their decision, considering instability of governance as an aspect of the downgrade in rating. *** "I strongly disagree with Fitch Ratings’ decision," Yellen's statement said. "The change by Fitch Ratings announced today is arbitrary and based on outdated data." ***
(Excerpt) Read more at foxbusiness.com ...
Who’s your enemy?
Trillions of dollars of over spending and absolutely no fiscal restraint from either party has nothing to do with it.
President Retard is too stupid to know he caused this himself
You mean it wasn’t Climate Change?
He’s just trying to copy his mentor. Remember “Bush’s fault” for 8 years?
Too bad “the buck stops here” is the general attitude of the public to such excuses.
Perish the thought.
If that was even remotely correct, the downgrade would have happened years ago.
No, it’s happening now, deep into this illegitimate administration.
81 million democrats completely agree. Orange man bad.
So the Biden folks are blaming Trump. I disagree.
I personally blame Calvin Coolidge for all this. “Silent Cal” was quiet, too quiet.
I don’t trust people who are too quiet. They’re probably plotting something.
Don’t worry our strong commercial real estate market will pull us right out…
What? It wasn’t climate change?
Its a tacit admission that our national politics now resembles that of a banana republic.
Investors should consider that.
Bidens Green bullsh*t is what caused this ....ask the EU
Long gone are the days of common sense.
We should be junk status with the current crowd in DC.
Here’s my prediction: Fiscal year 2024 will ultimately end up with a “surprise” $2 Trillion deficit.
There are better places to park your money now than the U.S. Dubai? Singapore? Even the E.U. may be better. They are willing to do austerity. Right now that's impossible in the U.S.
We haven’t had a President in a long time. Just professional blamers. Desantis is the only choice.
Especially in San Francisco.
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