Pulling the receipt…
Pulling the receipt…
MEBRO
06/18/26 · 11:40 PM UTC · 11 SOURCES
“Barack Obama was the first President to preside over a cut to the credit-rating of the United States.”
HIGH CONFIDENCE
TL;DR ·Barack Obama presided over the first-ever U.S. credit rating downgrade in August 2011.
On August 5, 2011, Standard and Poor’s (S&P) downgraded the credit rating of the United States for the first time in history . 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 . 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 . 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 .
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