Credit rating agency Fitch has downgraded the US rating from its highest AAA rank to AA+
The downgrade comes after lawmakers negotiated up until the last minute on a debt ceiling deal earlier this year, risking the nation’s first default. But the January 6 insurrection was also a major contributing factor. In a meeting with Biden administration officials, representatives from Fitch Ratings repeatedly highlighted the January 6th insurrection as a significant concern as it relates to US governance, a person familiar with the matter told CNN.
” White House press Secretary Karine Jean-Pierre said in a statement that “we strongly disagree with this decision,” and cited similar concerns about Fitch’s modeling. “And it’s clear that extremism by Republican officials—from cheerleading default, to undermining governance and democracy, to seeking to extend deficit-busting tax giveaways for the wealthy and corporations—is a continued threat to our economy,” she added.
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