August 3, 2023

Credit Downgrade

Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt at the federal, state, and local levels and a ‘steady deterioration in standards of governance’ over the past two decades. The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating…

“It’s only the second time in the nation’s history that its credit rating has been cut. In 2011, the ratings agency Standard & Poor’s stripped the U.S. of its prize AAA rating after a prolonged fight over the government’s borrowing limit.” AP News

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From the Right

The right argues that the downgrade is warranted, and calls for reductions in spending.

From the Left

The left is skeptical that the downgrade is warranted, but calls for plans to fix the long-term fiscal outlook.

The left is skeptical that the downgrade is warranted, but calls for plans to fix the long-term fiscal outlook.