Fitch Downgrades US Credit Rating to AA+ Amid Rising Debt and Political Dysfunction

Fitch cited rising debt levels, eroding fiscal discipline, and political dysfunction as reasons for the downgrade.
The Biden administration strongly disagreed with Fitch's assessment, blaming the previous administration.
Financial markets reacted negatively but experts believe the downgrade will have limited economic impact.
The downgrade could raise borrowing costs for the US government and American consumers over time.
This is the second time the US has lost its AAA credit rating following a previous downgrade in 2011.