{"id":2096836,"date":"2023-11-10T20:04:02","date_gmt":"2023-11-11T01:04:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-officials-blame-gop-extremism-for-moodys-negative-credit-outlook\/"},"modified":"2023-11-10T20:06:42","modified_gmt":"2023-11-11T01:06:42","slug":"biden-officials-blame-gop-extremism-for-moodys-negative-credit-outlook","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-officials-blame-gop-extremism-for-moodys-negative-credit-outlook\/","title":{"rendered":"Biden officials blame GOP &#8216;extremism&#8217; for Moody&#8217;s &#8216;negative&#8217; credit outlook"},"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\">20<\/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%2Fbiden-officials-blame-gop-extremism-for-moodys-negative-credit-outlook%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=2096836&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>The Biden Administration Disagrees with \u2063Moody&#8217;s Negative Credit Outlook for the United States<\/h2>\n<p>The Biden administration\u2062 released statements Friday evening expressing their disagreement with Moody&#8217;s Investors Service changing the United States credit outlook to &#8220;negative.&#8221; Deputy \u2062Treasury \u2062Secretary Wally \u200cAdeyemo \u200bassured that President Joe Biden has proposals in place to cut the budget and reduce the \u2063national deficit as a response to this change. Moody&#8217;s \u200bjustified their\u2063 decision by \u2063pointing out the large\u200d fiscal deficits \u200band the significant weakening of debt affordability.<\/p>\n<h3>Biden \u2064on the Brink: Democrats Start to \u200bPanic About Whether the President is\u2062 a Surefire 2024 Winner<\/h3>\n<blockquote>\n<p>\u201cWhile the statement by Moody\u2019s \u2064maintains the\u200d United States\u2019 Aaa rating, we disagree with the shift\u200b to a negative \u2062outlook.\u2063 The American economy remains\u200d strong, and Treasury securities are the world\u2019s preeminent safe and liquid asset,&#8221;\u2062 Adeyemo said\u200c in a statement. &#8220;The Biden\u2064 Administration has demonstrated its commitment to\u200c fiscal sustainability, including through the more\u200c than $1 trillion in deficit reduction included in the June debt limit deal as\u2063 well as President Biden\u2019s budget proposals \u200bthat would reduce the\u200d deficit by nearly $2.5 trillion over\u200d the next decade.\u201d<\/p>\n<\/blockquote>\n<p>White House press secretary \u200dKarine Jean-Pierre echoed Moody&#8217;s \u2062comment, stating that &#8220;continued political polarization&#8221; was another\u2063 factor contributing to the change in outlook.<\/p>\n<blockquote>\n<p>&#8220;Moody\u2019s decision to \u2062change the U.S. outlook is yet another consequence of Congressional Republican extremism and dysfunction,&#8221;\u2063 Jean-Pierre said. &#8220;Moody\u2019s \u200bcites a number of recent actions by Congressional \u2064Republicans: repeatedly taking us to the brink of a government shutdown, shutting down Congress for three chaotic \u200bweeks because they were\u2062 unable to unify around \u2062a leader, and holding the nation\u2019s full faith and \u200dcredit hostage. Whether it\u2019s those actions or their continued attempts\u2064 to\u200d increase the debt\u2062 with tax giveaways for the wealthy and big corporations, extreme Congressional Republicans\u2064 have undermined our \u200beconomy \u200bat every turn.&#8221;<\/p>\n<\/blockquote>\n<p>Moody&#8217;s\u2062 maintained the same\u200c AAA rating \u2064for the U.S. despite the change in\u200b outlook. This AAA rating\u200c signifies the lowest expectation of defaulting on debt. According to Moody&#8217;s, the nation possesses &#8220;exceptional economic strength, high institutional and governance strength, and the unique\u2063 and central roles of the US dollar and Treasury bond market in the global financial\u200b system.&#8221;<\/p>\n<p>The last time Moody&#8217;s lowered the outlook to &#8220;negative&#8221; was in 2011, and it remained so\u2063 until 2013 \u2062when it reverted back to &#8220;stable.&#8221;<\/p>\n<p><strong>Click here to read more from \u2063The Washington\u200c Examiner.<\/strong><\/p>\n<p> <\/p>\n<h2> How \u200cdoes the \u200cBiden administration plan\u200d to address the\u200b budget deficit and reduce the national debt?<\/h2>\n<p><span>  July 9, 2021<\/p>\n<p>The \u200cBiden Administration Disagrees with Moody&#8217;s Negative Credit \u200cOutlook for the \u2064United\u2063 States<\/p>\n<p>The Biden administration released \u200cstatements \u200cFriday evening expressing \u200btheir disagreement with Moody&#8217;s Investors Service changing the United\u2063 States credit outlook to &#8220;negative.&#8221; Deputy Treasury\u2064 Secretary Wally Adeyemo assured that President Joe Biden has proposals in place to cut \u2062the \u200bbudget and reduce the national deficit as a response to this change. \u2063Moody&#8217;s justified their decision by pointing out the large fiscal deficits and the significant weakening\u200c of debt affordability.<\/p>\n<p>The\u2062 United States has long held the\u200d prestigious \u2062Aaa credit rating from Moody&#8217;s, indicating\u2064 its ability to meet financial obligations with minimal credit risk. However,\u200d Moody&#8217;s recently modified the country&#8217;s credit \u2063outlook from &#8220;stable&#8221; \u200cto &#8220;negative,&#8221;\u200c citing concerns over\u2064 fiscal deficits and \u2064debt \u200caffordability. While Moody&#8217;s\u200c decision does not affect the \u200dactual credit rating at this time,\u200d it serves as a\u200c warning sign for \u2062potential future risks.<\/p>\n<p>In response \u200bto Moody&#8217;s negative credit outlook, the Biden administration expressed\u200b disagreement with the assessment. Deputy \u2062Treasury Secretary Wally Adeyemo emphasized that President Biden \u2064has proposed measures to \u200caddress the budget deficit and reduce the national debt. These proposals aim to ensure financial stability and strengthen the country&#8217;s \u2063creditworthiness.<\/p>\n<p>President \u2063Biden&#8217;s economic agenda includes plans to \u200dinvest in infrastructure, education, and climate initiatives, while also seeking to raise taxes \u2064on corporations and wealthy\u200b individuals. The\u200b administration\u200c believes that these measures \u2062will not\u200d only stimulate economic growth but also address the fiscal challenges raised by Moody&#8217;s. By implementing these policies, the Biden administration\u200d seeks to reduce the national deficit and debt over time.<\/p>\n<p>Furthermore, the\u2064 Biden administration highlights that the current economic environment, characterized by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/secy-yellen-dismissed-concerns-of-double-digit-inflation\/\" title=\"Secy. Yellen dismissed concerns of double-digit inflation\">low interest rates<\/a>\u200b and\u2062 strong demand for US \u200bTreasury bonds, provides favorable conditions for managing the national debt. They argue that\u200b such \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-officials-blame-gop-extremism-for-moodys-negative-credit-outlook\/\" title=\"Biden officials blame GOP 'extremism' for Moody's 'negative' credit outlook\">conditions make debt \u2062service manageable<\/a> and \u200densure the continued stability of the \u2062US \u2062economy.<\/p>\n<p>Moody&#8217;s decision\u2064 to \u200brevise the credit outlook has raised \u200dconcerns\u2062 among Democrats, who fear its potential impact\u200c on President Biden&#8217;s \u200cpolitical standing in the coming \u200cyears. Some Democrats worry that a negative credit outlook may diminish confidence\u200b in the administration&#8217;s economic policies and jeopardize the President&#8217;s chances for re-election in 2024.<\/p>\n<p>On the other hand,\u200b Republicans \u200dhave seized on Moody&#8217;s decision \u200bas evidence of the\u2063 Biden administration&#8217;s fiscal irresponsibility. They argue that the large fiscal deficits incurred by the administration&#8217;s proposed spending plans pose\u2063 a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/four-dangerous-new-democrat-bills-that-you-probably-havent-heard-of\/\" title=\"Four Dangerous New Democrat Bills That You Probably Haven\u2019t Heard Of\">long-term threat<\/a> to the country&#8217;s financial stability.<\/p>\n<p>The disagreement between the Biden administration and Moody&#8217;s underscores the ongoing debate over fiscal policy and\u2064 economic priorities. While the administration asserts that its proposals will effectively address\u200b the fiscal challenges, Moody&#8217;s concerns reflect\u200b the risks associated\u2064 with growing debt\u200b levels and potential\u2062 strains on debt\u200d affordability.<\/p>\n<p>As the United\u2064 States embarks on a path of economic recovery and growth following the COVID-19 pandemic, \u2064the\u2063 Biden administration faces the important task of\u2064 balancing economic stimulus with fiscal responsibility. The outcome will \u2064not only shape the country&#8217;s credit outlook but\u200b also determine its long-term economic trajectory.<\/p>\n<p>In conclusion,\u2063 the Biden administration disagrees with Moody&#8217;s negative credit outlook for\u200b the United States. They assert that President Biden&#8217;s proposed measures to cut the\u2062 budget and reduce the national deficit \u200dwill ensure\u2064 financial \u200cstability and strengthen the country&#8217;s creditworthiness. However,\u200c Moody&#8217;s concerns over \u200bfiscal deficits and debt \u2062affordability raise valid\u200c points\u2063 regarding the need for responsible \u2063economic policies and sustainable debt management. The \u200cclash between the administration and Moody&#8217;s highlights the ongoing debate over fiscal policy\u200d and economic \u2063priorities, which will\u2063 shape the United States&#8217; economic future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration released statements Friday evening disagreeing with Moody&#8217;s Investors Service changing the United States credit outlook to &#8220;negative.&#8221; Deputy Treasury Secretary Wally Adeyemo promised that President Joe Biden has proposals to cut the budget and reduce the national deficit as a result. Moody&#8217;s claimed to have changed the outlook from &#8220;stable&#8221; to &#8220;negative&#8221;<\/p>\n","protected":false},"author":1,"featured_media":2096837,"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":[538],"tags":[],"class_list":["post-2096836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"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\/2096836","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2096836"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2096836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2096837"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2096836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2096836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2096836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}