Bater KariAug 1, 2023
Laura Anne Gilman

https://www.nbcnews.com/business/economy/fitch-downgrades-us-credit-rating-rcna84051

Meanwhile, this is what GOP bullshit with the debt ceiling has gotten us.

Fitch downgrades U.S. credit rating

Fitch downgraded its credit rating for the U.S. government, from AAA to AA+, two months after the debt-ceiling crisis was resolved.

NBC News
Aug 1, 2023 at 10:22pmWeb
Show threadBater KariAug 1, 2023

@LAGilman The use of a fiat currency might have something to contribute as well. The government can print money as fast as the printers can run.

If we were still using the gold standard, the government can only circulate as much cash as what the gold reserves are worth.

Show threadLaura Anne GilmanAug 1, 2023
@bater possibly, but since we abandoned the last of the gold standard back in the early 70s, I’m not sure that explains even partially why it’s happening now.