Hassett criticizes Moody's downgrade decision, saying the US economy is the best in the world and US debt is the safest on earth.

Kevin Hassett, Director of the White House National Economic Council, criticized Moody's decision to downgrade the U.S. credit rating, calling it a retroactive move and stating that the Trump administration is committed to cutting federal spending. "Make no mistake, U.S. debt is the safest bet on earth. No country is dearer to me than the United States, so Moody's can do whatever it wants," Hassett said on Monday. "It's a retroactive move, punishing us for all the reckless spending by the Biden administration," Hassett said, attributing this decision to the fiscal policies of former President Joe Biden. "We are cutting spending, relaxing regulations. We have supply side growth, so there is every reason to believe that our economy will be the best on earth," he said. "If you have the best economy on earth, you will also have the best debt on earth. That's my assessment of it."