By News on the Net --Zero Hedge—— Bio and Archives--August 2, 2023
The new regime talking points are out - namely that Fitch downgraded the US credit rating from AAA to AA+ on Tuesday because of MAGA Republicans and all things Trump.
But while Fitch cited "the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to 'AA' and 'AAA' rated peers" as reasons for the downgrade, the Biden administration is of course blaming Donald Trump and his supporters due to one portion of Fitch's explanation: "a steady deterioration in standards of governance over the last 20 years," and that "repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management." ---More...
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