Just hang on, man. You're gonna love the next distraction!!
Posted on 08/02/2023 6:08:24 AM PDT by Red Badger
At the exact same moment, within minutes, of the newest election interference by the Biden Crime Family announcing the indictment of President Trump, a REAL story broke.
Thank you for reading this post, don't forget to subscribe! “Fitch Ratings downgraded the credit rating of the U.S. on Tuesday, saying the country’s growing debt and repeated standoffs over the borrowing limit make it less trustworthy then before.
Fitch downgraded the U.S. from a rating of “AAA” to “AA+” after several years of high-risk partisan battles over the debt limit. Those battles, Fitch said, have led to a spiraling national debt and a lack of faith in the U.S. government to handle it.”
The D.C. does not want to let you know that when the credit rating goes down, interest rates will go up. That massive $32 trillion debt, which grew by $400 billion in just the last month is going to cost more in interest payments.
As written before, they should have shut down the government, made the cuts needed and stopped any increase in the national debt. Bidenonomics is killing the middle class—and they try to hide it with an indictment against free speech. Have the Biden Crime Family put the whole nation in a death loop
Fitch Ratings downgraded the credit rating of the U.S. on Tuesday, saying the country’s growing debt and repeated standoffs over the borrowing limit make it less trustworthy then before.
Fitch downgraded the U.S. from a rating of “AAA” to “AA+” after several years of high-risk partisan battles over the debt limit. Those battles, Fitch said, have led to a spiraling national debt and a lack of faith in the U.S. government to handle it.
“There has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025,” Fitch wrote.
“The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management.”
Fitch’s downgrade comes roughly three months after President Biden signed a deal to raise the debt limit just days before the U.S. was expected to default on the national debt.
Fitch warned then that the growing debt — now well over $32 trillion — and Congress’s inability to manage it in a productive and responsible way posed threats to the country’s creditworthiness.
“The government lacks a medium-term fiscal framework, unlike most peers, and has a complex budgeting process. These factors, along with several economic shocks as well as tax cuts and new spending initiatives, have contributed to successive debt increases over the last decade,” Fitch said Tuesday.
“Additionally, there has been only limited progress in tackling medium-term challenges related to rising social security and Medicare costs due to an aging population.”
Fitch also cited “increased political polarization and partisanship as witnessed by the contested 2020 election” in its June warning. The agency released its Tuesday downgrade within moments of former President Trump’s indictment for his conduct on and leading up to Jan. 6, 2021.
The downgrade is an embarassing blow for the U.S. government, which had long been considered one of the safest borrowers in global finance.
Trillions of U.S. dollars and Treasury bonds lay the foundation for the U.S. financial system. That has allowed the federal government to rack up limitless debt without economic blowback.
While the rating’s downgrade may have a largely symbolic impact, it comes as the U.S. and other major powers face rising interest rates.
The Federal Reserve has boosted its baseline interest rate by 5.5 percentage points since March 2022 as the central bank battled inflation. A lower credit rating may push U.S. interest rates even higher, though global market conditions could dampen the full impact.
The timing of the downgrade, however, did raise eyebrows among some economists.
“The United States faces serious long-run fiscal challenges. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept,” posted former Treasury Secretary Larry Summers on X, the platform formerly known as Twitter.
The downward spiral continues.
The latest Trump indictment is hoped to be a distraction from the congressional hearings providing solid evidence of the Biden crimes and corruption
Biden et al are losing big time.The Trump indictment is panic
How about a nice game of Chess?
We have raise the “debt limit” or our credit rating will go down.
We raised the “debt limit” and our credit rating went down.
The credit rating of a nation will decrease when it is run by idiots.
Biden’s Chinese pay masters are getting their money’s worth.
The Trump indictment is a distraction from many things. I wonder how many charges Jack Smith has up his sleeve. Republicans should go scorched earth on the Biden Crime Family and the entire syndicate. Notably missing from all the investigations has been Nancy Pelosi’s son and John Kerry’s son. They were up to their eyeballs in this too. It’s time to investigate Nan and John. Follow the money. How long will it take Smith to invent new charges?
Next month:
Trump Charged With Immoral Thoughts on a Steamboat Landing...................
I am waiting for Trump to be charged for adding sand to the beach in front of his house.
FYI, Craig Benson, the last good Governor of NH, was charged with that a couple years ago. He trucked in sand during the winter and added it to the beach in front of his Rye, NH oceanfront home.
Biden freaks out when US credit rating is downgraded
due to his “erosion of fiscal management.”
The problem is he doesnt spend any time on the economy.
We’re learning Biden spends most of his time
<><>on his grooming,
<><>taking naps
<><>making deals w/ our foreign adversaries,
<><>sucking up to the Chinese
<><>opening secret bank accounts,
<><>enriching his crime family
<><>phoning his 6-7 grandkids,
<><>retreating to his various mansions in Delaware......
And his most foolish task....trying to remake no-account
cokehead Hunter into some semblance of a human being.
Or Tic-Tac-Toe!!!
The national debt reached $30 trillion about a year and a half ago (in February 2022).
Today its at $32.67 trillion, almost a 9% increase.
Can it be long before another rating agency also lowers the nation’s credit rating?
As an indication of what is important, this thread has fewer replies than a Taylor Swift thread.
We are in for rough seas ahead.
More here:
https://freerepublic.com/focus/f-news/4172219/posts
https://freerepublic.com/focus/f-chat/4172166/posts
https://freerepublic.com/focus/news/4172170/posts
😁👍
gold should go. But it hasn’t. Something else is going on.
Let’s go Brandon!
Didn’t Soros make his money undermining weak currencies?
That’s all these Trump “indictments” are. “Shiny objects” to distract the idiot voters’ sleepy, “woke” eyes away from the shenanigans of their beloved fascist socialists on the far left and the government they are running.
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.
One third of the National debt is going to be rolled over within the next 18 months. Of course that means they will be reissued at a higher rate.
Federal revenues for the first two quarters of 2023 fell by 20%. A growing economy does not lose revenue.
Enjoy the decline!
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