Speaker Mike Johnson made an appearance on this weekend’s Fox News Sunday, and was asked by host Shannon Bream about the credit downgrade from Moody’s late last week.
“For the first time in a century they downgraded the US government’s AAA rating. They say an increase in government debt and interest payment ratios that are significantly higher than similarly rated sovereigns.”
“Senate Minority Leader Chuck Schumer says it should be a wake up call to your party,” Bream continued. “He says you’re hell bent on a multi-trillion dollar tax cut for the ultra wealthy. Your response?”
Johnson, of course, proceeded to lie and blame the downgrade on the Biden administration, ignoring the fact that they’re about to explode the deficit with their “one big beautiful bill,” which was part of the reason for the downgrade.
JOHNSON: It’s just utter nonsense. It’s just like Chuck Schumer to create a crisis and then point fingers of blame. This is the Biden spending spree that got us in this mess.
Moody’s is not incorrect, but that’s why that emphasizes the very need for the legislation we’re talking about — historic spending cuts.
I mean this will help to change the trajectory for the US economy and send that message of stability to our allies and even our enemies around the world.
