{"id":1989300,"date":"2023-08-02T22:33:01","date_gmt":"2023-08-03T02:33:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-rips-biden-over-u-s-credit-being-downgraded-floridas-rating-nations-blueprint\/"},"modified":"2023-08-02T22:36:35","modified_gmt":"2023-08-03T02:36:35","slug":"desantis-rips-biden-over-u-s-credit-being-downgraded-floridas-rating-nations-blueprint","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-rips-biden-over-u-s-credit-being-downgraded-floridas-rating-nations-blueprint\/","title":{"rendered":"DeSantis slams Biden for U.S. credit downgrade: Florida&#8217;s rating sets the example."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdesantis-rips-biden-over-u-s-credit-being-downgraded-floridas-rating-nations-blueprint%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1989300&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Florida Governor \u2064Ron DeSantis Slams Biden&#8217;s Economic Policies<\/h2>\n<p>Florida\u200c Governor <a href=\"https:\/\/www.dailywire.com\/topic\/ron-desantis\" target=\"_blank\" rel=\"noopener\">Ron DeSantis<\/a> called out President Joe Biden\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/opinion-inflation-distance-learning-critical-race-theory-going-back-to-school-in-bidens-america\/\" title=\"Opinion: Inflation, Distance Learning, Critical Race Theory: Going Back To School In Biden\u2019s America\">disastrous economic policies<\/a> this week that \u2063have led to one\u2064 of the\u200c \u201cBig Three\u201d credit agencies lowering \u200cthe United States\u2019 rating by a tick on Tuesday.<\/p>\n<p>Fitch Ratings <a href=\"https:\/\/www.dailywire.com\/news\/fitch-downgrades-us-credit-rating-biden-officials-strongly-disagree\" target=\"_blank\" rel=\"noopener\">downgraded<\/a> the country\u2019s \u200bLong-Term Foreign-Currency Issuer Default Rating from top-rated \u200b\u201cAAA\u201d to \u2064\u201cAA+\u201d \u200bin a move that could lead to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/janet-yellen-as-congress-for-billions-to-help-other-countries-debt-relief-climate-change-initiatives\/\" title=\"Janet Yellen As Congress For Billions To Help Other Countries\u2019 \u2018Debt Relief,\u2019 \u2018Climate Change\u2019 Initiatives\">higher interest rates<\/a> and borrowing costs. \u2062It follows \u2063the federal government narrowly avoiding a default on its debt\u200d earlier this summer and several weeks ahead\u200c of a possible shutdown if a \u200dpolitically-divided Congress fails to come \u200dto an agreement on spending for the next fiscal year.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/FitchRatings?ref_src=twsrc%5Etfw\">@FitchRatings<\/a>\u2019 downgrade of \u2064the nation&#8217;s credit rating from\u2062 AAA \u2064to AA+ is \u2064a result of frivolous spending and ballooning national debt for\u2063 programs like the CARES and \u200c&#8221;Inflation Reduction&#8221; Acts. Florida&#8217;s\u200b AAA rating remains\u2062 the standard-bearer, serving as the nation&#8217;s blueprint\u2026 <a href=\"https:\/\/t.co\/ASwenYAz11\">https:\/\/t.co\/ASwenYAz11<\/a><\/p>\n<p>\u2014 Ron DeSantis (@GovRonDeSantis) \u200b <a href=\"https:\/\/twitter.com\/GovRonDeSantis\/status\/1686806972970958848?ref_src=twsrc%5Etfw\">August 2, 2023<\/a><\/p>\n<\/blockquote>\n<h3>DeSantis Stands for\u2064 Fiscal Responsibility<\/h3>\n<p>\u201c@FitchRatings\u2019 downgrade of the nation\u2019s credit rating from \u2064AAA to\u200c AA+ is a \u2063result of frivolous\u200c spending and ballooning national debt for \u2063programs like the CARES and \u2018Inflation\u2063 Reduction\u2019 Acts,\u201d DeSantis wrote on Twitter. \u201cFlorida\u2019s \u200bAAA rating remains the standard-bearer, serving as \u200dthe nation\u2019s blueprint for fiscal responsibility.\u201d<\/p>\n<p>\u201cIn FL, we\u2064 have run large budget surpluses and have paid \u200doff nearly \u200d25% of the state debt,\u201d he added. \u201cNational economic\u200b decline is a\u2064 choice.\u201d<\/p>\n<p>Former President Donald Trump later responded in his own social media post: \u201cFitch just downgraded U.S. Debt. First time in many years. WOW!\u201d<\/p>\n<p>Fitch said in\u200d a\u200d press release that \u2062the\u200c rating downgrade \u201creflects the expected fiscal deterioration\u200b over the next three years, a\u200d high and growing\u2062 general government\u200b debt burden, and the erosion of governance relative \u2064to \u2018AA\u2019 and \u2018AAA\u2019\u2063 rated peers over the last two decades that has\u2064 manifested in repeated \u200cdebt limit standoffs and \u200clast-minute resolutions.\u201d<\/p>\n<p>Fitch indicated\u200c that the change was \u2062a \u200dlong time coming, noting \u201cthere has been a steady deterioration in standards \u2064of governance over the last 20 years, \u2063including\u2062 on fiscal and debt matters, notwithstanding the June bipartisan agreement to \u2063suspend \u200cthe debt limit until \u2064January 2025.\u201d<\/p>\n<p><strong><a href=\"https:\/\/onelink.to\/dwapp\">CLICK HERE TO GET THE DAILY WIRE APP<\/a><\/strong><\/p>\n<p>The credit agency, which had placed the \u200bU.S. \u2063government\u2019s \u201cAAA\u201d\u2064 rating on a \u201cnegative\u201d watch this past May, also cited other factors in announcing \u200cthe change\u200c on\u2062 Tuesday, including projections that show \u201ctighter\u2064 credit conditions, weakening business investment, and a slowdown in\u200c consumption \u2063will push the U.S. economy into a \u200dmild recession.\u201d<\/p>\n<p>Treasury Secretary Janet\u2064 Yellen and the White House issued\u200c separate \u200bstatements that each said they \u201cstrongly disagree\u201d with the change. While Yellen called the decision \u201carbitrary and based\u200c on outdated \u2062data,\u201d White House\u200b Press Secretary \u2062Karine Jean-Pierre waded into politics.<\/p>\n<p>\u201cThe ratings model used by Fitch declined under President \u200bTrump and then improved\u2064 under President Biden, and it defies reality to downgrade \u2063the United States at a moment when President Biden has delivered \u200dthe strongest recovery of any major economy in the \u200dworld,\u201d\u2063 Jean-Pierre said. \u201cAnd it\u2019s clear that extremism by Republican officials \u2014 from cheerleading default, to undermining governance and \u2062democracy, to \u200dseeking to\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-rips-biden-over-u-s-credit-being-downgraded-floridas-rating-nations-blueprint\/\" title=\"DeSantis slams Biden for U.S. credit downgrade: Florida's rating sets the example.\">extend deficit-busting tax giveaways<\/a>\u2062 for the wealthy and corporations \u2014\u2063 is a continued threat to our economy.\u201d<\/p>\n<p>It\u2019s been more than a \u2064decade since the first and last time the U.S. faced such a downgrade. In 2011,\u200c S&#038;P bumped\u200b the U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-five-who-are-sen-rick-scotts-possible-democratic-challengers\/\" title=\"Who might challenge Sen. Rick Scott from the Democratic party? Here are the top five contenders.\">long-term rating<\/a> from\u2064 its \u201cAAA\u201d perch to \u201cAA+\u201d \u2014 where it stands today \u2014\u2063 citing\u2062 \u201cpolitical brinkmanship\u201d and the debt burden shortly after then-President Barack Obama signed legislation to lift the debt ceiling just days before\u200d it was estimated the U.S. could have defaulted on its financial obligations.<\/p>\n<p>After \u2062Fitch announced its downgrade on Tuesday, \u200dfollowing years \u200cof rising U.S. government budget numbers and the debt doubling since 2011 \u2064to more than $32 trillion, Republicans argued the change was an indicator\u2062 of too much spending and borrowing.<\/p>\n<p>\u201cToday\u2019s decision by Fitch Ratings to downgrade U.S.\u2063 sovereign debt to \u2018AA+\u2019 is yet another sign that incessant\u200d and irresponsible borrowing to\u200b fund bigger government \u200dis not without real repercussions,\u201d Rep. David Schweikert (R-AZ) said in a post to X. \u201cI\u2019ve been outspoken in\u2062 my belief that we need\u200b to get America\u2019s fiscal house in order before it\u2019s too late. Fitch\u2019s downgrade should be seen as exactly what it \u200bis \u2014\u200c a warning that continuing down the path of out-of-control borrowing will and does have serious consequences.\u201d<\/p>\n<p><em>Daniel \u200dChaitin contributed to this report.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Florida Governor Ron DeSantis criticized President Joe Biden&#8217;s economic policies, which resulted in Fitch Ratings downgrading the US rating from &#8220;AAA&#8221; to &#8220;AA+&#8221;. This downgrade is a consequence of Biden&#8217;s disastrous policies and may have significant implications for the country&#8217;s long-term foreign-currency issuer default rating.<\/p>\n","protected":false},"author":102,"featured_media":1989301,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1989300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/102"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1989300"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1989301"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1989300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1989300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1989300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}