Donate and feel great
Posted on 08/06/2011 8:10:37 AM PDT by Son House
Rep. Michele Bachmann, R-Minn., a Tea Party darling, called on Obama to fire Treasury Secretary Timothy Geithner and quickly submit a plan to balance the budget, not just reduce deficits.
“This president has destroyed the credit rating of the United States through his failed economic policies and his inability to control government spending by raising the debt ceiling,” she said. “President Obama is destroying the foundations of the U.S. economy one beam at a time.”
S&P said the plan fell short of solving the country’s debt problem.
President Obama met with Geithner in the Oval Office late Friday afternoon before leaving for the weekend at Camp David. The Treasury disputes the downgrade, saying the S&P analysis was fundamentally flawed.
“A judgment flawed by a $2 trillion error speaks for itself,” the Treasury said in a statement.
But that didn’t stop the GOP presidential hopefuls from attacking Obama.
“This is a sad moment for the United States, but it’s a reflection that our country is in trouble,” former Minnesota Gov. Tim Pawlenty said. “President Obama is inept when it comes to creating the conditions or job creation and economic growth. It’s time for a new direction and a new president.”
Former Pennsylvania Senator Rick Santorum called on Washington to pass a balanced budget amendment and mocked the Obama administration for disputing the S&P analysis.
“So, in addition to blaming President Bush for all of its problems, now the White House is blaming S&P – but this happened on the president’s watch – and he has to deal with it,” he said. “I guess President Obama is left to cling to the “hope” that a mathematical error caused this. Is that the ‘hope’ the president was talking about?”
(Excerpt) Read more at foxnews.com ...
You don’t have to be smart to know that sooner or later , those you borrow money from will want that money back.
We have to cut costs. Yet they raised the debt limit.
To me it seems a deliberate attempt to ruin our country and turn us into a Socialist or communist country and half the politicians in Washington are in on it.
They cannot be that stupid.
John Chambers, head of sovereign ratings for S&P, admitted there was an error in a CNN interview Friday night, saying "we agree with the Treasury's position on this and our figures reflect that."
But he also said the error "doesn't make a material difference -- it doesn't change the fact that your debt-to-GDP ratio ... will continue to rise over the next decade," he told "AC360."
Ed Henry, FNC’s new WH guy, was just on with Cavuto basically making excuses for Obama and covering for the administration’s mismanagement of the economy. Why did FNC have to recruit someone from CNN to cover the WH? This guy is a shill, just as many of us expected he would be.
So?
S&P's analysis tells them to treat the US as AA+ and there ain't a d#mn thing that the treasury can do about it!
What are they going to do raid the S&P offices to make them look shady or something?
Yes, you’d think having an informed guest would be a priority, might as well as been Whoopi, Ellen, Rosie, Joy, ect.
Obama is pissed that Chicago style intimidation doesn’t work with S&P.
And why admit it when the cost of the Health Care Insurance bill alone will exceed that? Seems they were just being generous, probably out of fear of big government.
Did you see the lady CEO, long blond hair? She was great at the end of her segment talking about solving the problems is what you do everyday when running a company and asking Obama what are you going to do?
His resignation should be effective IMMEDIATELY and he should be charges with malfeasance!
DNC Chairman Debbie Wasserman Schultz:‘We own the economy’ - June 15, 2011
We're going to hang you with this Ms. Wasserman Schultz!
FUBO GTFO 2012 !
“His failed policies have led to high unemployment, skyrocketing deficits, and now, the unprecedented loss of our nation’s prized AAA credit rating,” he said. “President Obama promised that ‘things will get better.’ But it has become increasingly clear that the only way things will get better is with new leadership in the White House.”Hmm. Specifics seem to be lacking. And "new leadership" means . . Romney? I don't think so.
Maybe it's the sound byte phenomenon. Not enough time to get the message across.
Now we get Ron Paul's plan:
Texas Rep. Ron Paul said if he is elected president, he will balance the federal budget in the first year of his term.Makes sense to me.“I will fight to reduce taxes and remove unconstitutional regulations so that businesses can hire, Americans can get back to work and our economy can truly recover,” he said.
President Downgrade will continue to ignore reality.
Wait til Moody’s and Fitch follow with downgrades. Thats going to be just ducky.
Yes and like a broken record Dingy Harry states that we MUST raise taxes (increase revenues) to prevent any more damage.(paraphrasing)
I have a feeling that Monday is going to be ugly on Wall Street.
Sheeesh, it never seems to end....
I'm packing to move from MN to GA and the way things are going I may not have a job any more in GA to go to.
Everything is day to day in this country these days.
“I’m packing to move from MN to GA and the way things are going I may not have a job any more in GA to go to.”
You are better off in GA. The Southeast has a lot more job opportunity than up North. In addition the GOP controls both state houses and the Governorhsip. Its gun friendly and property prices are pretty good. We have 4 seasons and none of them are long. Very long growing season here. Its a good place to be when the SHTF. Come on down.
I won't miss Al Franken at all...
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