Credit Downgrade : The latest negative economic news doesn’t surprise or please Americans. Our global reputation is deteriorating. We must spend our money wisely. On Fox Square’s Varney & Co. on Wednesday, voter Al spoke to Brian Brenberg. Al stated families can’t spend money they don’t have. Our nation’s rule-breaking worries Al. To satisfy demand, leaders issue more money.
Fitch lowered the U.S. foreign currency repayment rating. Thus, these remarks. AAA to AA+. The downgrade is because analysts expect our money condition to worsen, and our country owes a lot. Fitch stated the government is deteriorating, debts are rising, and the Fed is tightening. In the fourth quarter, Fitch expects the U.S. economy to stall.
In a Tuesday speech, U.S. Treasury Secretary Janet Yellen opposed this proposal. Yellen highlighted old statistics and suggested credit conditions have improved under Biden. Yellen claimed Trump’s administration triggered many of the issues.
From 2018 to 2020, Fitch’s rating model changed, which Yellen examined. She said that figures vary, but Fitch announced this change now. Yellen stated that several areas have grown, especially management. These changes resulted from government advances. Both parties collaborated on debt limits and road and bridge funding rules. This improves U.S. competitiveness.
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Gene, another voter, stated he has disliked [Bidenomics] since the current administration started. Gene, an ordinary New Yorker, said the credit rating downgrade doesn’t alarm him, but it does influence people’s views on the economy’s future. Gene said inflation boosts grocery and energy expenses.
Gene stated credit rating is hurting the economy. Showing how average individuals are dealing with these events proved there are genuine repercussions.
As the economy worsens due to the rating downgrade, some voters have suggested money issues may influence their 2024 vote. Kathy no longer teaches. Since she’s unemployed, she struggles to pay the bills. She stated, “The economy is affecting me a lot.” Inflation devours my money like a monster. I’m overspending. This makes me consider my presidential campaign strategy.
Credit ratings indicate the risk of lending to enterprises and governments. They advise us on whether to invest or lend. Lower grades entail higher borrowing costs. Fox News Digital hasn’t heard from the White House Council of Economic Advisers on public opinion.