Skip to comments.America's debt downgrade is a damning indictment of President Obama's Big Government disaster
Posted on 08/06/2011 2:16:45 PM PDT by Clairity
The decision by credit agency Standard and Poorâs to downgrade Americaâs AAA credit rating for the first time in 70 years is a massive blow to the credibility of the Obama administration, and a damning indictment of its handling of the economy. No doubt the White House will pathetically try to blame the Bush Administration, Republicans in Congress, and of course its favourite target, the Tea Party, for the move by S&P.
But without a shadow of a doubt, responsibility for the countryâs financial mess and staggering levels of debt lie with the current US president and his administration. They have been in charge of running the economy for over 30 months, during which time the United States has witnessed an unprecedented increase in government spending and borrowing.
(Excerpt) Read more at blogs.telegraph.co.uk ...
Throw Timmy under the bus.
yes, an indictment of comrade obama.
Our media is laying awake at night trying to figure out how to protect the made for television president they have created. Their dilemma is when and how to start moving away from him ...BUT, they can't! He is theirs just like the economy is his, the wars are his, the unemployment is his, the chasm separating the races is his, the class warfare is his, the price of gas is his, the rising cost of utilities is his, the problem on the border is his, the inept justice department is his. And to the media; by association, it's all THEIR'S!
Nile Gardiner is right. Obama owns the downgrade and the whole sinking U.S. economy. Obama and the Democrats blaming Bush, Republicans, the weather, the alignment of the planets, whatever, won’t cut it much longer. Obama has tried European socialism in America and it has failed, massively. Obama and the Democrats will never change their views, they are wedded to socialism. The only recourse is to deny them the power to keep harming our nation and it’s economy. In our democratic republic that is accomplished by an election in November, 2012. We must replace Obama and give the newly-elected Republican president a conservative Republican congress that will work with her to begin to fix this mess. If American fails to do so, we’re screwed. However, I think things are getting so bad that even the usually apathetic are waking up and realizing that they made a huge mistake by electing Obama and that it’s time to get serious, stop voting for slogans and image and vote common sense: Sarah Palin.
Obama wasn’t bullsh*tting when he said “change has come to America.”
No way in hell they get a chance to move away from him. They own him, they gave him to use. Time for them to eat their peas.
But Obama said that Geitner had great unique qualifications to be Treasury Secretary. Remember a scandal was brewing about Geitner’s tax problems, but Obama was determined that he be confirmed as Treasury Secretary.
Does the Obama administration take any responsibility for this downgrade? Already Democrats are saying that the Tea Party is at fault, and that the accumulated debt from the Bush era rolling forward also contributed to this crisis.
obama has managed to put the US economy on par with an african country.
I guess he wanted to feel at home.
Get rid of the african muslin in 2012.Please.
an european wishing to see America back to normal.
“Already Democrats are saying that the Tea Party is at fault, and that the accumulated debt from the Bush era rolling forward also contributed to this crisis.”
Good! Let them hammer it. Everyone knows its BS and only digs the Dem hole deeper every single time they do it.
I hate that it happened, but I love that Obama can always be blamed for presiding over the first ever downgrade in US history. Him and Tax Cheat Timmy are not going to be judged favorably by history.
Wonder if they’ll want him to return his Noble Peas prize?
While it’s certainly right to lay this at the feet of Obama, both Bushs should be included in the blame.
Ten or fifteen years from now, the pundits will declare that these past three days, Thursday, August 4 through Saturday, August 6 effectively ran the Obama administration and chances for reelection over the cliff. The market decline, the hip hop BBQ, the lowering of the credit rating and the helicopter shoot down all came together in a span of 48 hours to end this presidency.
President Obamamao has degraded America.
Not up on the timings...did the BBQ come before or after the shootdown?
Unfortunately, everyone doesn't know it is BS. A large portion of the electorate only believes what the MSM tells them and they are in full cover mode for Obama and will be campaigning for him enthusiastically until the election.
I honestly believe they would have had the BBQ anyway, even if the shoot down had been the same day or the day before. That's how vile these people are.