The Biden administration and Democrats are on the defensive after Fitch Ratings cut the U.S. long-term foreign-currency issuer default rating to AA+ from AAA—the first time a major rating company has downgraded the nation’s debt rating since 2011.
Despite Fitch’s concerns over “the fiscal deterioration over the next three years,” the White House is blaming former President Donald Trump and House Republicans for the Aug. 1 downgrade.
