‘Standards’ Of Governing To Blame For Credit Downgrade

Aug. 9, 2023 Editor, The News-Gazette: In his Aug. 8 newsletter, Rep. Cline claimed that Fitch, an American credit rating agency, downgraded the United States credit rating “due to rising government deficits, significant increases to our federal debt, and higher interest rates.”

Cline will ride that hobby horse until it dies. It is all he’s got.

In fact, Fitch cited “a steady deterioration in standards of governance” for the downgrade. Examples abound: Republicans gleefully holding the nation’s debt ceiling and economy hostage until the midnight hour; a Republican majority’s failure to pass 11 of 12 spending bills before their current recess; infighting between Republican showboaters and the rest of Congress.

Moreover, Clines’ jeremiad is out of line with the assessment of no less than JP Morgan, an institution that pronounced the economy strong on Aug. 4.

But what else can Cline do but natter on about the diminishing national debt? He clearly hopes no one notices that unemployment is down, inflation is down, the debt is reduced, and America is producing goods again. If people did notice, the 6th District might elect someone who speaks the truth and works for us rather than wobble back and forth on a wooden pony.

WALTER C. BOUZARD Rockbridge County