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Thursday, December 7, 2023

White House: Credit rating not a concern

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President Barack Obama is not concerned with the threatened U.S. credit rating, White House Press Secretary Robert Gibbs told reporters Friday.

Analysts have said the growing budget deficit and shaky prospects for economic growth could threaten the triple A rating the United States currently enjoys.

Standard & Poor’s this week left Britain’s triple A rating stand, but downgraded its confidence from “stable” to “negative.”

“What the president is focused on and has been since coming into office was getting in place a recovery plan that will create jobs and get this economy moving again,” Gibbs said.

“Short term, the way to bring down the deficit is get this economy moving again.”

“I think the president recognized we have to make progress to get our fiscal house in order to get Congress back — Congress and the executive branch back on a pay-as-you-go system,” he said.

“No, we’re not concerned about a change in our credit rating,” Gibbs told reporters, adding, “I don’t believe that they will be.”

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