CAROL ROTH: Joe Biden learned nothing from overseeing the last US debt downgrade.

In the summer of 2011, an ugly economic event that had never happened in the United States’ history came to pass: The sovereign debt of the United States received an official credit downgrade. Standard & Poor’s cut the debt rating from the crème-de-la-crème AAA rating down to AA+, due to concerns over growing debts and deficits.

Who was the vice president when this historic credit downgrade came about? None other than our current president, Joe Biden himself.

You would think that stern and unprecedented warning would have been a learning moment. At the time, the U.S. public debt stood at around 95% of GDP and was less than $15 trillion in the aggregate. If the U.S.’s fiscal standing was a concern then, Biden might realize the dire situation the U.S. is in today with public debt sitting at 125% or so of the GDP and rapidly approaching $32 trillion in total.

The Biden cabal isn’t in Washington to learn or lead or anything like that, but to raid the Treasury for everything they can.