Trump’s efforts to overturn election and political polarization led agency to decision, says senior director
Donald Trump’s attempt to overturn the 2020 election and growing political polarization in the US contributed to an “erosion of governance” that led a top credit ratings agency to downgrade US debt, a senior director of the company said on Wednesday.
Fitch cut its rating on US debt on Tuesday. It was only the second time in history that a leading credit agency has downgraded US debt. The first was in 2011, when Fitch rival Standard & Poor’s cut the US’s triple-A rating after a nerve-racking fight between the Republicans and the Obama administration over the federal budget.
About Author
More Stories
Xi Jinping tells Alibaba’s Jack Ma and Chinese tech chiefs to ‘show their talent’
‘We’re clearly heading towards collapse’: why the Murdoch empire is about to go bang
Hackers steal $1.5bn from crypto exchange in ‘biggest digital heist ever’