US Has Debt Rating Downgraded
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Joe Biden’s agenda is failing.
The ratings agency Fitch downgraded the US debt rating.
The United States had the highest rating of AAA and now is AA+.
Ratings agency Fitch Ratings have downgraded the US debt rating from the highest rating of AAA to AA+, citing ‘a steady deterioration in standards of governance’.
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The move could mean that borrowers are less likely to lend money to the federal government on favorable terms, potentially having an impact on taxpayers.
In a statement, the rating agency said: ‘In Fitch’s view, 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.’
The National Debt has skyrocketed over the last 20 years.
This is the Biden effect.
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