FACT CHECK #2LEAL_BM

WHAT WE FOUND

On August 5, 2011, Standard and Poor’s (S&P) downgraded the credit rating of the United States for the first time in history 1 5 10. This historic event occurred during the presidency of Barack Obama following a period of intense political debate over the nation’s debt limit and fiscal outlook 1 3 4. High-credibility sources, including the U.S. House Committee on the Budget and PolitiFact, confirm that the 2011 S&P downgrade was the inaugural cut to the nation's credit rating 2 3. While a second downgrade was later issued by Fitch in 2023 during the Biden administration, the 2011 event remains the first instance of its kind 3 8 11.

SOURCES

1. 1 · rpc.senate.govACADEMIC
   The Obama Economy: Debt and Downgrade

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2. 2 · politifact.comFACT-CHECKER
   PolitiFact | Rick Perry says national debt, Obama's refusal to control spending led to credit rating downgrade

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3. 3 · budget.house.govACADEMIC
   U.S. Debt Credit Rating Downgraded, Only Second Time In Nation’s History | The U.S. House Committee on the Budget - House Budget Committee

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4. 4 · theguardian.comNEWS
   Barack Obama under fire as blame game follows US credit downgrade | Barack Obama | The Guardian

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5. 5 · bbc.comNEWS
   US loses AAA credit rating after S&P downgrade - BBC News

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6. 6 · en.wikipedia.orgWEB
   Presidency of Barack Obama - Wikipedia

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7. 7 · 100percentfedup.comWEB
   THE STUNNING LIST Of Barack Obama’s “Firsts” * 100PercentFedUp.com * by Patty McMurray

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8. 8 · politico.comWEB
   Reacting to the downgrade - POLITICO

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9. 9 · theweek.comWEB
   The U.S. credit downgrade: Who's to blame? | The Week

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10. 10 · washingtontimes.comWEB
    EDITORIAL: Obama’s downgraded America - Washington Times

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11. 11 · rightwingnews.comWEB
    Cast Your Eyes Upon This List of the First US Black President’s Accomplishments | John Hawkins' Right Wing News

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