Sen. Joe Manchin, D-W.Va., called the recent drop in the U.S. credit rating a "historic failure of leadership" by Congress and the Biden administration.
In a Thursday statement, the moderate lawmaker put the onus of the country's credit woes on the failure of politicians to come together in addressing historic budget deficits and the broader $32 trillion debt.
"This is a stark warning that cannot be ignored," Manchin said. "We must act now to fully fund the government and address our national debt before we wake up to a future where America's superpower status is in jeopardy and we have lost the confidence of our allies around the world."
"Every American will suffer if Washington politics get in the way of long-term solutions that address these challenges," he added.
Manchin also hinted at revising the budget before the end of fiscal year 2024, arguing that leaders must take the necessary steps "to restore our credit rating and keep America's economy strong for this generation and the next."
Fitch Ratings downgraded American credit from AAA to AA+, citing the meteoric rise in the national debt over the past three years, which economists claim was primarily caused by the COVID-19 pandemic.
Meanwhile, the moderate senator has flirted with running an independent candidacy for the bipartisan political organization No Labels, which plans to field someone in the 2024 presidential elections.
"I've never been in any race I've ever spoiled. I've been in races to win," Manchin said last month when asked at a No Labels forum in New Hampshire if he plans on running for president. "And if I get in a race, I'm going to win."
The lawmaker criticized Joe Biden in April after the president initially refused to sit down with House Speaker Kevin McCarthy, R-Calif. Eventually, the pair settled on a deal.
Information from Reuters was used in this report.
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