White House Communications Director Stephen Chan criticised Moody’s choice to downgrade US sovereignty ratings due to concerns over the country’s rise, $36 trillion in debt
On May 16, Moody’s rating downgraded the US credit rating from AAA to AA1, with the US government performing the highest among the major rating agencies.
Chong responded to the downgrade in a social media post, picking out Moody economist Mark Zandy and calling him a political opponent to President Donald Trump.
“Moody’s economist Mark Zandy is an Obama advisor and Clinton donor since 2016,” Chan said on X, previously known as Twitter. “No one takes his ‘analysis’ seriously. He proves wrong over and over again. ”
Zandy is the chief economist of Moody’s analysis and is separate from the credit rating agency, according to Bloomberg.
Congressional lawmakers are currently working on a massive Trump-backed tax package, updating the cuts passed in 2017 during his first term, providing the additional cuts they promised in the last election.
Moody’s decision comes hours after Hardline conservatives and Democrats worried about the bill’s costs and worried that major House committees would block advances in the tax package.
Trump is not directly dealing with change while traveling abroad.
