America's Credit Rating

Destroyed by Trump. According to the rating agency, they'd lost confidence in the ability of the US to repay debt for several reasons:

1) Growing debt levels caused by Republican tax cuts (a little basic accounting: If you don't generate revenue, you have no money to spend)

2) The constant brinksmanship and bickering over raising debt levels which has little to do with sound fiscal policy and everything to do with political posturing.

3) The Jan 6 fiasco - When the president of a nation attempts to overthrow the democratic process in a political coup (no matter how poorly executed), it doesn't fill creditors with faith that their own agreements will be honored by said government.

All of this can be laid at the feet of the dysfunctional Republican party. This is what all of your squabbling and irresponsible game-playing gets you.



https://www.nytimes.com/2023/08/01/business/fitch-downgrade-us-credit-rating.html

Fairly accurate, especially since this country is on the chopping block for personal gain.

Yeah well cry more liberals MAGA 2024

Quote by Ironic

I haven’t read...

That sounds accurate.

Quote by New York Times article conveniently linked and referenced above

"Biden administration officials, speaking on the condition of anonymity, said that they had been briefed by Fitch ahead of the downgrade and made their disagreements known. They noted that Fitch representatives repeatedly brought up the Jan. 6, 2021, insurrection as an area of concern about U.S. governance."

My article's bigger than yours. 😉

And we're still paying for Trump cutting taxes, but NOT cutting government spending. So, yeah, government revenue couldn't keep up with the rising deficit. But he did buy the votes of the uneducated minions with that move.

OH! Then there was Trump's China tariff fiasco, which caused across the table price increases from China with even greater price increases on computer chips and tech products, fueling inflation.

Quote by Buz

And we're still paying for Trump cutting taxes, but NOT cutting government spending. So, yeah, government revenue couldn't keep up with the rising deficit. But he did buy the votes of the uneducated minions with that move.

OH! Then there was Trump's China tariff fiasco, which caused across the table price increases from China with even greater price increases on computer chips and tech products, fueling inflation.

Talking about paying for Trump, pretty sure if he’s found guilty he’ll just have to wear an ankle bracelet at Mara lardo with us paying for a bunch of security and guards and probably upkeep on the place and a bunch of other nonsense.

Quote by Ironic

Here's what Fitch had to say about Jan 6:

Fitch downgraded the U.S. credit rating due to fiscal concerns, a deterioration in U.S governance, as well as political polarization reflected partly by the Jan. 6 insurrection, Richard Francis, a senior director at Fitch Ratings, told Reuters on Wednesday.

"My article's bigger than yours."? Only some people are worried about size,

The article mentioned that the Jan 6 insurrection came up several times as an area of concern. Nothing you've said is a counterpoint, more so adding to the original point.

Please, I beg of you, quit while you're ahead with your typical pedantic bit.

Quote by Ironic

The Fitch executive said the political polarization was reflected in the Jan 6 attack, and it was the political polarization that was part of the decision. You're just misreading what was said.

"Richard Francis, a senior director at Fitch, told Reuters the agency’s decision was partly based on “the deterioration of governance,” which was “highlighted” by the January 6 insurrection."

"Biden Administration officials were briefed on the agency’s downgrade and told reporters Fitch representatives discussed the insurrection as an area of concern about governance, according to the New York Times."

I'm not misreading anything. You're just being obtuse and pedantic, which as you know by now, kills threads. I'm asking you to stop. I won't ask again.

I understand that this tactic is the only way in which you can engage in conversations here in the Think Tank, but now you're being challenged to come up with another method.

Quote by Ironic

Yes, “the deterioration of governance,” which was “highlighted” by the January 6 insurrection." is what was part of the decision. For some reason, you've latched on the "highlight" and not the substance.

None of this refutes how the Jan 6 events contributed to the loss of confidence when it comes to the ability of the US to pay off its debts.

Quote by Ironic

"My article's bigger than yours."? Only some people are worried about size,

Yep, I often hear it said that "size doesn't matter, it's what you do with it." In your case, either way, it hasn't been much.

Quote by Ironic

It suits you to focus on the "highlights" instead of the substance of what was part of the Fitch decision. OK. I'm going to assume you'll agree with the other parts of the Fitch decision.

It suits you to kill yet another thread with your refusal to engage in the topic, and instead engage in semantic "gotcha" moments.