Sen. Manchin: Declining US Credit Rating a Leadership Failure

Sen. Joe Manchin, D-W.Va., referred to as the current drop within the U.S. credit standing a “historic failure of leadership” by Congress and the Biden administration.

In a Thursday statement, the average lawmaker put the onus of the nation’s credit score woes on the failure of politicians to come back collectively in addressing historic finances deficits and the broader $32 trillion debt.

“This is a stark warning that cannot be ignored,” Manchin stated. “We must act now to fully fund the government and address our national debt before we wake up to a future where America’s superpower status is in jeopardy and we have lost the confidence of our allies around the world.”

“Every American will suffer if Washington politics get in the way of long-term solutions that address these challenges,” he added.

Manchin additionally hinted at revising the finances earlier than the top of fiscal yr 2024, arguing that leaders should take the required steps “to restore our credit rating and keep America’s economy strong for this generation and the next.”

Fitch Ratings downgraded American credit score from AAA to AA+, citing the meteoric rise within the nationwide debt over the previous three years, which economists declare was primarily brought on by the COVID-19 pandemic.

Meanwhile, the average senator has flirted with operating an impartial candidacy for the bipartisan political group No Labels, which plans to discipline somebody within the 2024 presidential elections.

“I’ve never been in any race I’ve ever spoiled. I’ve been in races to win,” Manchin said last month when requested at a No Labels discussion board in New Hampshire if he plans on operating for president. “And if I get in a race, I’m going to win.”

The lawmaker criticized Joe Biden in April after the president initially refused to sit down down with House Speaker Kevin McCarthy, R-Calif. Eventually, the pair settled on a deal.

Information from Reuters was used on this report.