Maryland Loses AAA Bond Rating for first time in over 50 years, ending a historic run of fiscal stability that stretched back to 1973. Statement by the Maryland Freedom Caucus – “Governor Wes Moore’s attempt to shift blame for Maryland’s credit downgrade is as misleading as it is predictable. Democrats have controlled the Maryland General Assembly for over a century and have dominated state policymaking through consistent legislative majorities. The Democrat-dominated General Assembly drives the budget process — and it shows. For years, they’ve passed bloated budgets, diverted billions into pork-barrel projects, and handed out politically driven bond and line-item grants with little accountability. If you’re a fiscal conservative, you respect the procurement process — because competitive, merit-based spending is how government is supposed to work. Annapolis Democrats replaced that with favoritism and waste. This downgrade didn’t come from Washington — it came from Annapolis. While Moody’s warned Maryland a year ago with a negative outlook, Democrats responded by doubling down on unsustainable spending and expanding debt obligations. This year’s budget alone included $1.6 billion in tax increases, further punishing working families while doing nothing to correct course. Now Maryland families will bear the cost. Governor Moore may be trying […]
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