US Debt: The Ultimate Gamble? You Won’t Believe What This Economist Thinks! 💸

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So, Kevin Hassett, the White House National Economic Council Director, has decided to throw some serious shade at Moody’s downgrade of the US credit rating. I mean, who needs a good credit score anyway? 🙄

In a recent tête-à-tête with Fox Business, Hassett boldly declared that US debt is “the safest bet on Earth.” Yes, you heard that right! Forget about your savings account; apparently, the best investment is a mountain of debt! 💰

“There’s no country’s debt that I’d rather have than the United States’, and so Moody’s can do what it wants to. As Secretary Bessent said, it’s a backward-looking thing, penalizing us for all the reckless spending of the Biden Administration. But we’re cutting spending, we’re deregulating, we’ve got supply-side growth, and so we’ve got every reason in the world to believe that we’re going to have the best economy on Earth. And if you have the best economy on Earth, you’re going to have the best debt on Earth too.”

Ah, the sweet smell of optimism! Moody’s, however, decided to rain on this parade by downgrading America’s credit rating from AAA to AA1. They cited the US’s skyrocketing national debt and interest payment ratios that are apparently more dramatic than a reality TV show. 📉

And just like that, the US lost its final Triple-A credit rating. Remember when Standard & Poor’s (S&P) took it down a notch in 2011? Good times! And then Fitch Ratings joined the party in 2023, citing budget deficits and political drama as the main culprits. Who knew economics could be so entertaining? 🎭

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2025-05-21 20:01