CHARLESTON, WV (LOOTPRESS) – US Senator from West Virginia, Joe Manchin offered his thoughts Thursday morning on the downgrading of America’s credit rating by Fitch, one of three nationally recognized statistical rating organizations which were designated in 1975 by the U.S. Securities and Exchange Commission.
The development came about earlier in the week, as the agency reported a drop in America’s credit rating from AAA to AA+. The Senator pulled no punches in citing a “historic failure of leadership by both political parties and the Executive branch” as having been responsible for the change.
Manchin specifically notes a reported “decline in governance, erosion of cooperation in the federal government and ballooning national debt,” as having informed the decision to lower the national credit rating, and asserted that action must be taken as a result.
“This is a stark warning that cannot be ignored,” said Manchin, declaring that an international loss of confidence could threaten America’s status as a superpower country.
“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,” he continued.
“Every American will suffer if Washington politics get in the way of long-term solutions that address these challenges.”
With the September deadline to fund the federal government drawing ever nearer, the Senator has called on members of both parties to reach a bipartisan solution to retain a powerful economy.
“Now, more than ever, it is time for elected leaders from both parties to work together and send a clear message to the world that we will take the necessary fiscal and budgetary steps to restore our credit rating and keep America’s economy strong for this generation and the next,” he concluded.