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Sen. Joe Manchin (D-W.Va.), who has railed against the nation’s record-high debt, on Thursday called Fitch Ratings’ downgrade of the U.S. credit rating from AAA to AA+ a “historic failure of leadership by both political parties and the executive branch.” Manchin, who is flirting with a presidential run as a third-party candidate backed by the group No Labels, has regularly criticized what he views as the lack of bipartisan cooperation in Washington. He blamed the nation’s latest credit downgrade on the inability of Republicans and Democrats in Congress and President Biden to make significant progress in addressing the nation’s $32...

See also: US credit rating sinks as national debt increasesWhen Fitch, the securities ratings agency, downgraded US sovereign debt, it was a huge story in the financial world. The Wall Street Journal’s initial coverage noted that it was:…clouding the outlook for the $25 trillion global market for Treasurys. Fitch’s rating on the U.S. now stands at “AA+”, or one notch below the top “AAA” grade.America’s reputation for reliably making good on its IOUs has cast Treasury bonds in an indispensable role in global markets: a safe-haven security offering nearly risk-free returns. Treasurys serve as a critical benchmark for returns on...

Bidenomics is where the Attorney General Garland gives Hunter Biden blanket amnesty and arrests Biden’s Presidential opponent. Welcome to the United Venezuelan States of America!e The new regime talking points are out – namely that Fitch downgraded the US credit rating from AAA to AA+ on Tuesday because of MAGA Republicans and all things Trump. But while Fitch cited “the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to ‘AA’ and ‘AAA’ rated peers” as reasons for the downgrade, the Biden administration is of course blaming...

President Biden's administration is placing the blame for the United States' drop in credit rating on former President Donald Trump and the Jan. 6 riots. Fitch announced Tuesday it has officially downgraded the United States' long-term foreign-currency issuer default rating to "AA+" from "AAA," saying the downgrade "reflects the expected fiscal deterioration" and the nation's heavy debt burden. An administration official claimed to FOX Business on Wednesday that the underlying model was AAA until former President Donald Trump's administration. The administration official claimed the model dipped in the Trump-era and despite efforts since 2020, Fitch's change in consideration on a...

I feel like I’ve said this a lot lately, but Joe Biden has a lot of gall.I think there’s no question about it. He’s done such a horrible job on the economy, driving us into record inflation spurred on by reckless spending. But then he tries to take “credit” for all kinds of things he had nothing to do with or that aren’t true. He tries to label his failures a success, even calling the mess he’s put forth “Bidenomics” (as though that were something of which to be proud).But there’s only so much you can spin, and there’s no...

Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA on Tuesday, pointing to “expected fiscal deterioration over the next three years,” as well as a growing general debt burden.

Fox News has been foundering ever since it unceremoniously dumped ratings kingpin Tucker Carlson in April — and the devastating fallout is escalating. On Monday, Wells Fargo analyst Steven Cahall downgraded Fox Corp. stock and lowered its price target, citing as a key driver plunging cable news viewership following Carlson’s departure, according to Yahoo Finance. “Wells Fargo analysts downgraded shares of Fox Corporation (NASDAQ:FOXA) to ‘Underweight’ from ‘Equal Weight’ on Monday,” Investing.com reported. When a stock is downgraded, it means analysts are pessimistic about its chances of providing market-beating investment returns. When analysts “underweight” a stock, they’re suggesting it has...

A major financial services company downgraded Fox Corporation stock, citing risks concerning news, earnings, and viewership. Wells Fargo analysts downgraded shares of Fox Corporation (NASDAQ:FOXA) to underweight from equal weight on Monday, lowering the price target to $31 from $35 per share. "Fox News is the FOXA cash cow at ~80% of our FY24E EBITDA," the analysts said, Investing.com reported. "Viewership is down -19% Jan-June'23 vs Jan-June'21 due to cord cutting and/or programming. "More worryingly, Fox News was 52% of cable news primetime viewership for 2020-22, 51% in Jan'23, and that has slid to a low of 38% in June'23...

That’s a whale of an economy you’ve got there, Brandon. The good news is swirling like…well…Ty*D*Bol. It sure seems you and your team are the only ones missing the picture.None of this is news to any of us, no matter how you insist it’s not happening or better than it was.Beef prices were holding food down a little (it was because ranchers couldn't afford to feed their herd) That may have worked it's way through.. YoY food prices.. ouch. pic.twitter.com/N0gYdjgJYY— Frog Capital (@FrogNews) March 14, 2023You’d think chicken would be one of the bright spots as inflation roars its way...

Continuing delays on the construction of Interstate 69 between Bloomington and Martinsville have led to another ratings downgrade on the bonds issued to help finance the project. Standard & Poor’s has lowered its rating from BB+ to BB- on $244 million in bonds issued by the Indiana Finance Authority in 2014 for the interstate project. “The rating action reflects our view of increased construction risk at the project, which is eight months behind schedule and about 56 percent complete,” S&P Global Ratings credit analyst Tony Bettinelli said in the ratings agency’s statement on the downgrade last week. The 21-mile project,...

Moody’s Investors Service downgraded the debt of both the Chicago Public Schools and the Chicago Park District on Wednesday, a day after it downgraded the city’s bond rating to junk status. Moody’s has given a Ba3 rating to the school district’s debt, down from a Baa3 rating, saying the district faces “increased strain on its precarious financial position” due to last week’s Illinois Supreme Court decision overturning state pension reform. It reduced the Chicago Park District’s rating to from Baa1 to Ba1, one notch below investment grade. The rating service’s moves affect the school district’s $6.2 billion in general obligation...

ities: The problem with socialism, Margaret Thatcher once noted, is you eventually run out of other people's money. In progressive Chicago, that's hit home as Moody's has cut its credit rating to two grades above "junk." Chicago's finances are staggering under the weight of an unfunded pension liability that Moody's Investors Service has estimated at $32 billion, eight times the city's operating revenue. Chicago has a $300 million structural deficit. And Illinois law requires the city to up its 2016 contributions to its police and fire pension funds by $550 million. "This is an unfortunate wake-up call for anyone still...

Fears over the future of Japan's economy are growing – and Moody's, the credit ratings agency, reflected this on Monday by cutting its credit rating to A1 from AA3. The news came just after the country's main stock market, the Nikkei, closed at a seven-year high.

We are always told by the establishment that conservatives are causing them to lose seats in Congress. The reality is that the ineptitude of GOP leaders is what’s causing us to lose seats. There is a little noticed pattern that has emerged from redistricting. Almost every state that had a “nonpartisan” commission draw the new district lines eliminated Republican seats. The worst example was in California where Republican activists warned leaders that the commission’s map would cost us 4 seats. It happens to be that Majority Whip Kevin McCarthy is ostensibly the leader of the CA GOP delegation. It turns...

A Brooklyn man named Barry Baldwin, 35, has been arrested and charged with five incidents in which Jewish women were viciously punched for no apparent reason. The incidents are seen as being connected to a sadistic game called the “knockout game,” which involves targeting unsuspecting victims on the street and knocking them out with a sucker punch. Police picked up Baldwin last week, and originally connected him to six incidents and charged him with six hate crimes because he targeted Jewish victims, sources told the Daily News. For some reason, the charges were later downgraded to assaults without a hate...

European leaders meeting in Brussels for a summit on banking rules got some bad news this morning. The Standard and Poor's credit rating agency announced that it is stripping the entire European Union of its AAA rating.

SPRINGFIELD, Ill. (AP) -- Fitch Ratings has downgraded the credit worthiness of Chicago's bond debt because of its public pension problems. Fitch dropped the rating from AA- to A- on $8 billion in general obligation bonds, backed by property taxes. It also dropped the rating on $497 million in sales tax bonds — paid for by both the city's local sales tax and its share of the state sales tax.

The United States could lose its top credit rating for the second time from a leading agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday. Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by the end of February or face a potential default, Fitch says. There are fears that the debate will descend into the sort of squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. Outgoing U.S. Treasury Secretary Timothy Geithner warned then that...

Washington, D.C. – It is possible, possible, that the massive shuffling of Cabinet positions for president Obama will have a positive effect on his next four years in office. With so many people leaving the make-up of the team that led to a lot of mediocrity and divisiveness will be fundamentally altered.timothy geithner leaving obama administration Some of those changes, say Secretary of State, clearly trade one strong player for another but in other places the changeover will not be as smooth or as clearly good. There is, perhaps, no position more important in all of this than the change...

CHICAGO (Reuters) - Illinois' public pension funding problems, likely to persist if not worsen, led Moody's Investors Service on Thursday to revise the state's credit outlook to negative from stable, putting more pressure on state lawmakers to act. Illinois' finances are buckling under a $96.8 billion unfunded pension liability while Governor Pat Quinn and various state lawmakers are pushing to get various reform measures passed by the legislature in early January. But Moody's, which affirmed Illinois' A2 rating, said the passage of any reforms stands a good chance of being challenged in court on the basis of strong state constitutional...