Treasury Secretary Scott Bessent, the big shot, made an appearance before the House Financial Services Committee on May 7, 2025, in Washington, DC. Looking all fancy and official, Bessent had his moment in the spotlight, ready to drop some knowledge bombs. Pete Marovich snapped some pics for Getty Images to capture the moment.
Moody’s Ratings, those guys who love to rain on everyone’s parade, decided to downgrade the U.S.’ credit rating by a notch from the top spot. Scott Bessent, not one to mince words, called Moody’s out, labeling them a “lagging indicator.” In an interview on NBC News’ “Meet the Press,” he didn’t hold back, stating that everyone thinks of credit agencies as lagging indicators. Shots fired, indeed.
The downgrade from Aaa to Aa1, according to Moody’s, was all about the increase in government debt and interest payment ratios over the past decade. Bessent, pointing fingers like there’s no tomorrow, blamed the Biden administration’s spending policies for the credit rating slip. It’s all about those investments in combatting climate change and expanding health care coverage that got us here, apparently. And let’s not forget the $36.22 trillion national debt hanging over our heads like a dark cloud. So, what’s next? Who knows, but one thing’s for sure, drama is always around the corner.
