Biden administration official blames Trump, Jan. 6 for Fitch AAA US downgrade

President Biden's administration is placing the blame for the United States' drop in credit rating on former President Donald Trump and the Jan. 6 riots.

Fitch announced Tuesday it has officially downgraded the United States' long-term foreign-currency issuer default rating to "AA+" from "AAA," saying the downgrade "reflects the expected fiscal deterioration" and the nation's heavy debt burden.

An administration official claimed to FOX Business on Wednesday that the underlying model was AAA until former President Donald Trump's administration.

The administration official claimed the model dipped in the Trump-era and despite efforts since 2020, Fitch's change in consideration on a number of factors meant the model could not recover. 

The official told FOX Business that Fitch repeatedly cited Jan. 6 as a factor in their decision, considering instability of governance as an aspect of the downgrade in rating.