Dysfunctional Government Carries a Financial Cost.

In 2011, following protracted debate over the debt and government spending, S&P downgraded U.S. debt to AA+ from its prior AAA. "House Republicans understood this truth which is the reason Speaker [Kevin McCarthy] made countless attempts to start a dialogue with the White House months before the debt limit was reached." By Tim Smart Contributor | Aug. 11, 2023, at 5:40 a.m. Fitch Ratings caught most of Washington off guard a week ago when it downgraded the debt of the U.S. government. [Extracted from the article]