Skip to comments.Obama Reflects On Debt Fight: Didn't Need This "Manufactured Crisis"
Posted on 08/02/2011 11:11:44 AM PDT by Nachum
"In the last few months, the economy has had to absorb an earthquake in Japan, the economic head winds coming from Europe, the Arab Spring and the rise in oil prices, all of which have been very challenging for the recovery. But these are things we couldn't control. Our economy didn't need Washington to come along with a manufactured crisis to make things worse. That was in our hands. It's pretty likely that the uncertainty surrounding the raising of the debt ceiling for both businesses and consumers has been unsettling and just one more impediment to the full recovery that we need and it's something we could have avoided entirely. So, voters may have chosen divided government but they sure didn't vote for dysfunctional government. They want us to solve problems, they want us to get this economy growing and adding jobs," President Obama said in the Rose Garden Tuesday afternoon after the debt ceiling deal passed in the Senate.
(Excerpt) Read more at realclearpolitics.com ...
Okay. Fine. Do you mind explaining why you manufactured it, then?
The list, ping
Let me know if you would like to be on or off the ping list
Just once I’d like to hear him take ownership of some of the ills of our nation. I’m not talking about “I’ve been in Afghanistan.” I’m talking about the economy, jobs, etc.
I know, I know .... don’t hold my breath, right?
That has been exactly the left's method of operation for decades. And the stupid Republicans fall for it every single time, over and over and over again. They show no signs of wising up...or perhaps they don't even want to wise up, they're happy playing the butt of the joke as long as they get to keep their hands in the money trough.
Yes, exactly. Manufactured...by whom? Manufactured means it was unreal, but Bambi is probably too stupid to realize that what he is actually saying is that there was no crisis and his claims that it did exist were totally fictional.
It’s a pity we have a dim bulb with no understanding of the English language as our president.
Whose constituents are out there with free health care, free rent, free student loans, special home loan rates, etc., and special consideration for EVERYTHING in life that the rest of us have to pay for ourselves or do without???
If he is looking for someone to blame, he can look at that crowd of freeloading losers who support him.
“In the last few months, the economy has had to absorb an earthquake in Japan, the economic head winds coming from Europe, the Arab Spring and the rise in oil prices, all of which have been very challenging for the recovery./
Amazing! I notice he didn’t tack on his failure as president to that list. He should have.
This man is a menace and extremely dangerous. The fact that he can lie so blatantly is very scary. We need to vote him out before he does even more damage than he’s already done.
What an IDIOT.
Stolen for forwarding purposes!
I thought it might be humorous to create a graphical representation of what we all know Obama will do when, economically speaking, the fecal matter impacts the impeller blade.
LOL...sure looks like the stock market is getting their impeller blades splattered today.
Then why did the Democrats manufacture it? They had the reigns on everything and could have done it.
This was done to try and rescue Obamsky’s ratings. They tried to pull a ‘Clinton’ and bait the Republicans into shutting down the government and making them take the blame for it.
It is a loss for them in ratings, loss for the Dems in the economy and potentially a major loss at the polls in 2012. If the Republicans can take total control of the houses, they can repeal some of the major works of Obamsky like ObamaCare.
He knows this. The party knows this. That is one huge reason why they must destroy the Tea Party, because if the Tea Party candidates come in and rip up Obamacare, it puts a major crimp in their plans.
This, and not to mention, they can go after and impeach role players in the administration. That is why they played this game of chicken and a high stakes game it is.
SENATE APPROVES DEBT HIKE...
SPARKS LOBBYING FRENZY...
REID VOWS TO RAISE TAXES...
THREAT OF DOWNGRADE STILL LOOMS...
Debt deal doesn’t dispel downgrade fear
(Reuters) - Investors fear the United States may be headed for a credit ratings downgrade even if the Senate approves a $2.1 trillion package of spending cuts later on Tuesday.
Though the bill removes the threat of imminent default by raising the national debt limit enough to last until 2013, its cuts are only about half the $4 trillion in savings that ratings agencies Standard & Poor’s and Moody’s have said would be enough to confirm the country’s triple-A rating with a stable outlook.
Adding a sense of immediacy to downgrade anxieties, S&P said in mid-July there was a 50-50 chance it would cut U.S. ratings in the next three months if lawmakers failed to craft a meaningful plan to cut the nation’s deficit.
S&P could downgrade U.S. ratings soon after the bill is signed by President Barack Obama, given that the agency will have all the information it needs to make a decision.
Such a move would likely cause both U.S. Treasury and stock prices to fall.
“A lot of people are very concerned about the potential for a downgrade,” said Robert Pavlik, chief market strategist at Banyan Partners LLC in New York.
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