November 13, 2023

Chairman Arrington Reacts to Moody’s Report Lowering U.S. Economic Outlook

House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement after the Moody’s Investor Service lowered its rating of the U.S. economic outlook from “stable” to “negative” ahead of heightened interest rates and out-of-control spending levels:

“It is noteworthy that over just the last several months, the U.S. credit rating has been downgraded and the fiscal outlook has changed for the worse; meanwhile, the U.S. Treasury bond market has softened and our overall economy is weakening.  

We are barreling towards a debt-related economic crisis and it’s imperative we stop the spending and borrowing that’s driving it."