Manchin denounces 'historic failure of leadership' after Fitch credit downgrade

Sen. Joe Manchin (D-WV) called on Washington to get its fiscal house in order after Fitch lowered the country's credit rating, a "stark warning" that he said "cannot be ignored."

Citing an "erosion of governance," Fitch downgraded the rating from AAA to AA+ on Tuesday, the first time a credit agency has taken such a step since 2011. The downgrade, both then and now, followed a bitter fight and last-minute resolution to a standoff over the country's debt ceiling.

The announcement revived a familiar blame game by party leaders, with Democrats faulting Republicans' insistence on budget cuts and the GOP denouncing the trillions in new spending approved under the Biden administration. Former President Donald Trump, too, faced blame after Fitch cited the Jan. 6 riot at the Capitol as a factor in its decision-making.

Manchin, a centrist Democrat from West Virginia, however, called the downgrade a "historic failure of leadership by both political parties and the Executive branch."

He urged Congress and the White House to fund the government and avoid a protracted government shutdown that appears increasingly likely. But he said doing so must include fiscal reforms.