Bidenomics: US credit worthiness downgraded

Diesel said:
"But on Tuesday, Fitch Ratings cut the U.S. debt by one notch, from AAA to AA+, partly in response to how the federal government handled the debt crisis two months ago. That move mirrored a similar downgrade by S&P in 2011, also following a debt ceiling standoff in Congress.

"Fitch cited alarm over the country's deteriorating finances and expressed major doubts about the government's ability to tackle the growing debt burden because of the sharp political divisions, exemplified by the brinkmanship over the debt ceiling that brought the government close to a disastrous default."

https://www.npr.org/2023/08/02/1178215888/fitch-downgrade-credit-rating-deficits-debt-economy

Actually, the economy is strong. Job growth, unemployment, and wages are all healthy.

https://www.cnbc.com/2023/08/04/jobs-report-july-2023-187000-jobs-in-july.html

Democrats are not bad for the economy. Partisan politics caused the credit downgrade. Your rabid partisanship exemplifies this.
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NPR and NBC is not Fitch ratings, ya dumb Gay Gasbag. False authority fallacy.
 
Tinkerpeach said:
It didn't happen under Trump's watch did it?

It happened under Biden's.

He's responsible for it.

Blaming past presidents is a cop out.

If the economy is doing as great as the democrats tell us then we wouldn't have been downgraded.
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It didn't happen under trump's watch because the GOP was in charge and raised the debt ceiling 20 times without a whimper.
 
archives said:
Due to debt, and Biden alone is not responsible, in fact, your Messiah set records for a President adding to the debt in only one term, plus the right’s icon, Reagan, was the President that started the “deficits don’t count” mentality, so don’t try to tell us the GOP is good for the economy
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No, anchovies. It was a DEMOCRAT that started the whole 'borrowing in peacetime' mentality, resulting in the $32.6 trillion debt we have today.
The President does not add to the debt. The HOUSE DOES.
 
Tinkerpeach said:
It didn't happen under Trump's watch did it?

It happened under Biden's.

He's responsible for it.

Blaming past presidents is a cop out.

If the economy is doing as great as the democrats tell us then we wouldn't have been downgraded.
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Fitch is describing 'deteriorating' government as part of the reason of it's downgrade. That's Biden and Democrats, obviously, but it also considered the high debt as a factor.

During Trump, the debt went from $19.7 trillion to $26.2 trillion (or an increase of $6.5 trillion in 4 years).
During Biden, the debt went from $26.2 trillion to $32.7 trillion (or an increase of $6.5 trillion in THREE years!), and Biden is still in 'office' with a full year remaining.

Source: US Treasury.

What is NOT mentioned (and should be!) is the devaluation of the dollar by 25% during the Biden years or the shortages, or the ongoing economic depression, started by the Democrats in 2019.
 
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Into the Night said:
Fitch is describing 'deteriorating' government as part of the reason of it's downgrade. That's Biden and Democrats, obviously.

During Trump, the debt went from $19.7 trillion to $26.2 trillion (or an increase of $6.5 trillion in 4 years).
During Biden, the debt went from $26.2 trillion to $32.7 trillion (or an increase of $6.5 trillion in THREE years!), and Biden is still in 'office' with a full year remaining.
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Yep, the left always tries to make that argument without actually knowing the facts.
 
T. A. Gardner said:
For only the second time in modern history, the US has had their creditworthiness downgraded. The first time was in April 2011 by Standard and Poor during the Obama administration. The second, was four days ago by Fitch Ratings.

https://www.fitchratings.com/resear...ings-to-aa-from-aaa-outlook-stable-01-08-2023

https://www.washingtonexaminer.com/...msn&utm_medium=referral&utm_campaign=msn_feed

Smoke and mirrors notwithstanding, Democrats are bad for the economy...
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Did you read the reasons why it was downgraded, Terry, or did you just leap into hating half of American voters?

Do you have thoughts of violence such as shooting up a supermarket or synagogue? Does your van look like this?

R.58c604c7f8971822aa1efc4dcbdd3e3e
 
cawacko said:
Our credit downgrade didn’t happen in a vacuum. It’s the result of the actions of two political party’s and the voters who enable them.

Each ‘side’ blaming the other is lazy and quite frankly ignorant as it does nothing to address why this occurred. We (voters) want our cake and to eat it too and politicians give us what we want.
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No, you don't get to blame the extraordinarily bad economy on the Republicans, Wacko.
 
cawacko said:
One person did not cause the U.S. to be tens of trillions in debt. One person did not cause our spending to be at unsustainable levels. Trying to blame others is simply a tactic to excuse our own behavior and responsibility.
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DEMOCRATS did this. ONE person started it: FDR.
 
cawacko said:
I’ll throw this out there as well. How often in recent times have we heard the argument “debt is cheap so it doesn’t hurt us to borrow so much”? Did people really think we could have ZIRP and easy money forever? (I guess the latter is a rhetorical question)

More and more money is going to have to go to service our debt and that crowds out a lot of other needs
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Apparently the DEMOCRATS think so. Debt is not cash, Wacko.
 
Concart said:
Nope. This downgrade was the result of two things. Debt ceiling and the disastrous possibility that Donald Trump could be president. One party and one party only owns this downgrade. And if trump gets a whiff of the white house you can kiss our credit rating goodbye. I’m tired of the pussyfooting. Republicans are literally trying to destroy this country.
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You are hallucinating again, Wacko. Fitch described the factors it was using. Trump wasn't even named.

It is DEMOCRATS trying to destroy this country. Inversion fallacy.

* DEMOCRATS condone censorship and government control of speech and religion; discarding the 1st amendment.
* DEMOCRATS condone giving the federal government authority it doesn't have; discarding Articles I, II, and III.
* DEMOCRATS condone banning and limiting weapons, particularly guns; discarding the 2nd amendment.
* DEMOCRATS condone snooping and seizure of private property without due process; discarding the 4th amendment.
* DEMOCRATS condone compelling a witness to testify against himself; discarding the 5th amendment.
* DEMOCRATS condone conviction without due process and denying the right to confront the witnesses and evidence against you; discarding the 6th amendment.
* DEMOCRATS condone excessive penalties for a crime; discarding the 8th amendment.
* DEMOCRATS think rights come from constitutions; discarding the 9th amendment.
* DEMOCRATS think States should lose sovereignty and be completely subservient in all respects to the federal government; discarding the 10th amendment.
* DEMOCRATS think the President should elected by popular vote; discarding Article II and the 12th amendment.
* DEMOCRATS would love to repeal the 13th amendment and return to slavery.
* DEMOCRATS believe in "rules for thee, not for me", and laws that are based on racism or 'elite' status; discarding the 14th and 15th amendments.
* DEMOCRATS believe in "taxing the rich", and not everyone equally; discarding Article I and the 14th and 16th amendments.

DEMOCRATS discard and deny the Constitution of the United States, then they have the GALL to try to hide behind the very document they despise.
 
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Into the Night said:
Some DO know the facts, but intentionally try to lie and obscure them. Others do not know the facts.
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Don't think I've ever run across a liberal that knows facts, they just parrot what they are told to say and are fueled by their hate and rage.

There are no common sense thinkers among them.
 
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