A Moody’s downgrade of the US credit score reverberated through financial markets Monday and pushed down stocks, but the response from Republicans crafting a bill that could add trillions in new red ink was to immediately try to minimize the news.
“There a lot of optimism in this economy, and the president disagrees with that assessment,” White House press secretary Karoline Leavitt said Monday morning.
Both the White House and its congressional allies have taken pains to appear unfazed by the development, with lawmakers even taking a step forward Sunday night on the package after Moody’s directly cited the ongoing effort in its Friday statement that it had stripped the US government of its top AAA rating.
Ben Werschkul | Yahoo Finance