The Biden administration released statements Friday evening disagreeing with Moody’s Investors Service changing the United States credit outlook to “negative.”
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’s claimed to have changed the outlook from “stable” to “negative” because fiscal deficits remained large, which is causing debt affordability to weaken significantly.
BIDEN ON THE BRINK: DEMOCRATS START TO PANIC ABOUT WHETHER THE PRESIDENT IS A SUREFIRE 2024 WINNER
“While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook. The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset,” Adeyemo said in a statement. “The Biden Administration has…
