[ April 27, 2026 ]
The U.S. Credit Rating Has Been Downgraded from AAA to AA+ — Fitch cites an ‘Erosion of Governance.’
Meanwhile Fitch downgraded U.S. credit rating today as the national debt quickly approaches $33 Trillion.https://t.co/igOXr1MjZH
— Citizen Free Press (@CitizenFreePres) August 2, 2023
Fitch just downgraded the United States’ credit rating and said they lost confidence in the government’s “fiscal management.” Fitch basically just called the US fiscally irresponsible. As we saw in the 2011 debt ceiling crisis, cutting the US credit rating is expensive. Borrowing costs rise and confidence in the system is lost. Now, history has repeated itself. Only this time, the debt ceiling is effectively uncapped until January 1st, 2025. Meanwhile, spending “unexpectedly” increased 15% in June and interest expense on US debt is about to hit a record $1 trillion this year. Simply put, this is unsustainable.
https://twitter.com/KobeissiLetter/status/1686490038048006144
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Fitch Downgrades US Credit Rating Amid ‘Erosion Of Governance’
By AFP – Agence France Presse August 1, 2023
Fitch Ratings downgraded the United States’ long-term ratings to AA+ from AAA Tuesday, citing factors including an “erosion of governance” over the last two decades as the country faced repeated debt limit standoffs.
“The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance” relative to peers, said Fitch in a statement.
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The Barron’s news department was not involved in the creation of the content above. This story was produced by AFP. For more information go to AFP.com.
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