Donald Trump learned why Joe Biden is so desperate to arrest him.
Biden knows he needs help in the next election.
But this one prediction about 2024 was the last thing Donald Trump ever expected.
Joe Biden recently forced Republicans in Congress to cave in on the debt ceiling and accept the terms of surrender that granted him the ability to run up unlimited trillions of dollars in debt until January of 2025.
But this proved to be a Pyrrhic victory.
That’s because Fitch Ratings downgraded the United States’ credit rating from AAA to AA+.
Fitch cited the explosion of America’s debt, thanks to trillions in socialist spending and foreign policy misadventures, as the drivers of “expected fiscal deterioration” in the very near future.
“The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to ‘AA’ and ‘AAA’ rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions,” Fitch wrote.
Fitch also stuck with their projection of the U.S. economy entering a recession at the end of 2023 and into early 2024 as one of the consequences of Biden’s mismanagement since taking office.
“Tighter credit conditions, weakening business investment, and a slowdown in consumption will push the U.S. economy into a mild recession in 4Q23 and 1Q24, according to Fitch projections. The agency sees U.S. annual real GDP growth slowing to 1.2% this year from 2.1% in 2022 and overall growth of just 0.5% in 2024. Job vacancies remain higher and the labor participation rate is still lower (by 1 pp) than pre-pandemic levels, which could negatively affect medium-term potential growth,” Fitch added.
Fitch also blasted Biden and RINO leaders in Congress, like Kevin McCarthy and Mitch McConnell, for deteriorating governance related to the debt ceiling and the failure to control runaway socialist spending.
“In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025. The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management,” Fitch added.
Incumbent President’s running for re-election in the teeth of a recession do not win a second term.
If these projections hold and the economy enters a recession that drags into 2024, then Joe Biden’s re-election campaign becomes an extreme uphill battle.
And that could explain the urgency of Democrat prosecutors weaponizing the justice system to indict Doanld Trump as many times as they can.
Patriot Political will keep you up-to-date on any developments to this ongoing story.