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 "The change by Fitch Ratings announced today is arbitrary and based on outdated data."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 ...
I putting all my money into the Millennium Tower.
Quote: “You mean it wasn’t Climate Change?”
They floated that trial balloon with a series of panic stories from the MSM blaming climate change for everything. It didn’t float.
Now, we are on to the next “blame it all” gambit. Trump and January 6th. But you know you are in trouble when climate change sounds more viable than January 6th.
Next up: Because of the overturning of Roe v. Wade . . . .
You have got to be kidding me…
I knew that was coming when I saw the part about the the last second resolutions debt standoffs.
Democrats are,such habitual LIARS.
VOTE DEMOCRATS OUT.
He’s not man enough to take personal responsibility he’s always blamed everyone else he honed that skill with working with Obama.
Two peas in a pod
The downgrade coincided with this announcement by Treasury :
“The Treasury Department revealed on Monday that it expects to borrow $1.007 trillion in the third quarter, or $274 billion more than estimated in May.”
Yeah, That’s the ticket! Trump’s fault, my wife Morgan Fairchild told me so. I though the turnip said he would take responsibility while in office. I guess he lied again.
Soooo, an un-named administration official
turns out to be Yellen, what a surprise!
The downgrade to AA+ is just transitory. On tne road to getting a D.
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