Citing an “erosion of governance” illustrated by the unnecessary risk to the US economy caused by Republicans craving performance art, credit bureau Fitch downgraded the US credit rating from AAA to AA+ on Tuesday, NBC News reports.
“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,” the rating agency said in a statement. Besides the lack of stability in government because of Republican immaturity, Fitch cites increasing federal debt–largely driven by GOP policies lowering taxes while increasing debt and deficits–and a risk of the US falling into recession as other reasons.
Overall, Fitch notes that the US economy has strong underpinnings, but the periodic instability of the federal government–driven by anti-responsibility conservatives who do not believe in fiscal conservatism in paying accrued bills, in the vein of the titular leader of the Republican Party, Donald Trump–is largely driving the rating downgrade.