Whether it's those actions or their continued attempts to increase the debt with tax giveaways for the wealthy and big corporations, extreme Congressional Republicans have undermined our economy at every turn." WALLY ADEYEMO, DEPUTY SECRETARY OF THE TREASURY "While the statement by Moody's maintains the United States' Aaa rating, we disagree with the shift to a negative outlook. The American economy remains strong, and Treasury securities are the world's preeminent safe and liquid asset. The Biden Administration has demonstrated its commitment to fiscal sustainability, including through the more than $1 trillion in deficit reduction included in the June debt limit deal as well as President Biden's budget proposals that would reduce the deficit by nearly $2.5 trillion over the next decade." REPUBLICAN REPRESENTATIVE ANDY HARRIS, ON X SOCIAL MEDIA "Moody's just downgraded our credit rating outlook to negative because of our out-of-control government spending and deficits.