Biden is eager to run on the economy — ‘Bidenomics’ — but voters have their doubts
June 27, 2023
https://apnews.com/article/biden-economy-bidenomics-jobs-speech-inflation-1fcefdcbb66cb980db85b24accdfbaa6
WASHINGTON (AP) — President Joe Biden is eager to take full political ownership of the U.S. economy — a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it.
But polling has consistently shown the economy to be a weak spot for Biden’s reelection hopes. Just 33% approve of his leadership on the issue, according to a May survey by the Associated Press-NORC Center for Public Affairs.
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US credit rating downgraded in shock move: ‘Deterioration in standards of governance’
August 1, 2023
https://nypost.com/2023/08/01/fitch-cuts-us-credit-rating-citing-expected-fiscal-deterioration/
Ratings agency Fitch on Tuesday downgraded the US government’s top credit rating to AA+ from AAA, citing an expected fiscal deterioration over the next three years as well as a high and growing general government debt burden.
The dollar ticked lower following the downgrade, which came two months after President Biden and the Republican-controlled House reached a debt ceiling agreement after months of political brinkmanship. The deal lifted the government’s $31.4 trillion debt ceiling.
“In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025,” the rating agency said in a statement.
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