Posted on 08/06/2011 2:42:35 PM PDT by Justaham
WASHINGTON (AP) - President Barack Obama sought to distance himself Saturday from the bad news of the nation's first-ever credit-rating downgrade, but lawmakers and presidential candidates showed no such reticence—trading salvos over who's at fault and why. The president, spending the weekend at Camp David, left it to press secretary Jay Carney to say it's clear Washington "must do better" in tackling soaring deficits and other economic woes.
A statement from Carney said talks that produced Tuesday's $2 trillion compromise on raising the U.S. borrowing limit had been too drawn-out and "divisive."
But the statement didn't directly address Friday's move by Standard & Poor's to drop U.S. government debt from AAA to AA+, the next level down.
While telegraphed by S&P last month, the downgrade still delivered a potentially serious blow to the nation's struggling recovery—raising the prospect of higher interest rates and fresh falls in stocks after the big selloff of the last two weeks.
S&P told investors the deficit accord "falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics."
However, administration officials sharply disputed S&P's judgment and challenged its numbers, saying the deal's deficit-cutting value had been drastically understated. They charged the company's analysis was rushed and faulty.
But S&P stood by its finding. In a conference call with reporters on Saturday, S&P officials said the company's carefully reasoned conclusion is that political gridlock in Washington has made the nation increasingly unable to control its debt.
House Speaker John Boehner, R-Ohio, asserted the downgrade "is the latest consequence of the out-of-control spending that has taken place in Washington for decades."
(Excerpt) Read more at breitbart.com ...
And we CAN do better.
“Yes, we can”
(in 2012)
Obama should resign.
Ummm....Precedent Erkel Mugabe “we” is doing our part. You an your merry band of polidiots an presstitutes an union handlers are the problem......
And I want your sorry slacker gundecking shitbird ass out of office now....impeached yesterday wouldn’t be soon enough you goat abuser.
It's always our fault.
Addicts always think everything is somebody else's fault.
Well I just really hope that this doesn’t mess up his Martha’s Vineyard vacation~! (sarc off)
What do you mean WE kemo sabe?
Boehner & the house republicans own this downgrade and all the fallout. They could have forced a balanced budget and preserved our credit rating without a single democrat vote or obama’s approval.
What’s this “we” cr p?
from wikipedia:
A nosism is the use of ‘we’ to refer to oneself.[1]
Main article: Majestic plural
A common example is the royal we (Pluralis Majestatis), which is a nosism employed by a person of high office, such as a monarch, earl or pope. It is also used in certain formal contexts by bishops and university rectors. The expression was first used in 1169 when English King Henry II (d. 1189), hard pressed by his barons over the investiture controversy, assumed the common theory of “divine right of kings,” that the monarch acted conjointly with the deity. Hence, he used “we” as “God and I...,” or so the legend goes. (See Rolls Series, 2.12)
WE can do better.
The current occupant of the Oval Office cannot.
He will not do the very things that could unleash America and restore our productive capability.
End the “Patient Protection and Affordable Care Act”. It neither protects patients, nor provides affordable care.
Curb EPA and its back-door efforts to apply carbon-dioxide emission limits. This administrative regulation of a substance vital to life, is both overly expensive, and cannot possibly change any climate patterns anywhere.
Open up, REALLY open up, widespread extraction of coal, petroleum and natural gas, and convert much greater amounts to useful energy, goods and services. This would assist greatly in ending the chronic underemployment in this country. Also our balance of trade, because we could then become a net EXPORTER of energy.
End special tax considerations for industry, and reduce the corporate tax rate for corporations to 20%. Either reduce the capital gains rate to 15% or less, or abolish it altogether for assets held for two years or longer.
But as noted earlier, this figurehead would never adopt any of these policies, as he is incapable of considering them seriously.
Apparently he fears that somebody, somewhere, will make “too much” money, and it may even be a person he does not like.
now move over to DU and clean up your attitude.
time your leader grows and takes owner ship,,,this is a History First and he like to claim ‘first’.
Republicans have just had the House since Jan. 2011 and you can't win with the Senate in Harry's control.
Move up the election.
The House, under Boehner, passed a plan with bipartisan support that would have averted this downgrade & put us on the right path: "Cut, Cap & Balance" (HR 2560).
What did Obama & the obstructionist Senate say?
Harry Reid: "Over, Done, Dead"
White House: "Duck, Dodge and Dismantle."
The House, under Boehner, passed a plan with bipartisan support that would have averted this downgrade, included $4T in cuts, & put us on the right path: "Cut, Cap & Balance" (HR 2560).
What did Obama & the obstructionist Senate say?
Harry Reid: "Over, Done, Dead"
White House: "Duck, Dodge and Dismantle."
REID owns this. OBAMA owns this.
STOP BLAMING HOUSE REPUBLICANS.
Truly inspiring words...Odingo is a sage.
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