Editor’s note: This is a lightly edited transcript of today’s video from Daily Signal Senior Contributor Victor Davis Hanson. Subscribe to our YouTube channel to see more of his videos.
Hello, this is Victor Davis Hanson for The Daily Signal. I’d like to talk about debt, debt, debt.
All during the last few days, we’ve heard some startling news. Moody’s, the bond evaluator, for the first time in its history, since 1917, has lowered the credit rating of the United States government from Aaa to Aa1.
It didn’t do that during the 2008 meltdown. It didn’t do that during the Great Depression. It didn’t do that during 9/11. It didn’t do that during the Biden years when we borrowed $7 trillion. But it did it now.
At the same time, Jerome Powell, the head of the Fed, will not lower interest rates even though there’s been a good jobs report, a good…
