Regulator Joe Blows Off Fitch’s Bitches

Fitch downgraded America’s credit rating as the Swamp, MSM & average Joes slept. Governmental “chaos” was cited as one reason. So, what does Biden Administration do? Pile on the chaos with another smoke-filled regulatory blitz.

The WSJ’s editorial board was blunt in suggesting the agency’s rating on Uncle Sam’s debt from AAA to AA+ not only will cost the nation 2-4 percentage points on every future transaction it tries to pay off creditors but “may be too optimistic about its fiscal future.” The agency cited the out-of-control spending & outlandish national debt. But, then, it curiously mentioned something about “the erosion of governance” that has “manifested in repeated debt limit standoffs & last-minute resolutions.” The editors add, “it ought to be a warning to the political class, which will ignore it.” You think? Just the day before, the newspaper had run a seemingly unrelated op ed titled, “Biden’s Summer Regulatory Onslaught” that perhaps unintentionally added color to the Fitch consternation over our leaders inability to lead. Noted the editors, “While Congress & the media sleep, new [bureaucratically imposed aka mandated] rules remake the American economy.”

Put another way, to skirt Congress’s Constitutional powers & responsibilities, the executive branch & the bureaucracy it runs are running circles around, over & under the legislative branch to impose its own progressive agendas. Note, the Trump era’s “conservative” Supreme Court has helped block some of those maneuvers in recent months. But, never underestimate the left-leaning bureaucracy’s ability under Joe to tell Congress to “go blow.” As the WSJ warned: “The Biden … regulatory onslaught is more unrelenting than the heat. With Congress leaving town, the WH … dumped another truckload of regulations that will cost Americans hundreds of billions of dollars.” It’s a long editorial that lists those new rules. It’s looking like a long, hot winter for the economy & nation’s rating, too.

Davd Soul