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Biden Team Throws a Fit Trying to Spin Fitch Downgrading US Credit Rating

Critics of President Joe Biden are expressing strong disapproval of his economic policies, accusing him of reckless spending and mismanagement of the economy, leading to record inflation.

Despite this, Biden attempts to take credit for successes that some argue he had little to do with. Fitch Ratings has downgraded the country’s credit rating from “AAA” to “AA+” due to concerns about growing debt and political polarization.

This comes after Biden raised the debt limit, exacerbating the situation. The Federal Reserve’s interest rate hikes have also contributed to economic challenges, and Fitch’s downgrade may further escalate interest rates.

The Biden administration is trying to spin the situation in their favor, with Treasury Secretary Janet Yellen calling the downgrade “arbitrary and based on outdated data.” However, critics argue that the administration’s fiscal policies have been irresponsible and have led to significant debt accumulation.

Biden’s team attempts to shift blame to former President Donald Trump and congressional Republicans, but critics believe that the responsibility lies with the current administration’s spending habits.

Despite their efforts, the Biden team’s attempts to deflect the criticism appear desperate, and the downgrade is likely to have negative implications for the administration ahead of the upcoming election.

Ashlie is a senior reporter for the TosBos News. She covers live and breaking news from 6 am every day. Ashlie joined the M.E.N. in 2019 having previously worked for Cavendish Press news agency.


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