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Goolsbee to S&P: Check your work
Politico ^ | 8/7/11 | Seung Min Kim

Posted on 08/07/2011 10:03:27 AM PDT by Nachum

Outgoing White House economic adviser Austan Goolsbee went on the attack against Standard & Poor’s on Sunday, charging the agency’s credit downgrade was based on “questionable mathematics.”

The rating agency lowered the U.S. credit rating on Friday from a top AAA to AA+, but not before the Treasury Department discovered an accounting error by Standard & Poor’s and urged the agency not to downgrade.

“They made a $2 trillion math error, and they didn’t check their work,” Goolsbee said on NBC’s “Meet the Press.”

Goolsbee also called for policymakers to focus not just on the deficit but also on longer-term proposals aimed at boosting job creation and lowering the nation’s 9.1 percent unemployment rate.

He pointed to several economic initiatives that could gain bipartisan support, such as extending the payroll tax cut and acting on pending free-trade agreements with Colombia, Panama and South Korea.

(Excerpt) Read more at politico.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: check; goolsbee; sp; work
Check that funky math-book white boy
1 posted on 08/07/2011 10:03:30 AM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 08/07/2011 10:04:04 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Do they really think it matters to the world what they think about S&P? Do they really think the world is expecting them to say “Way to go, S&P! We’re behind you 100%!”


3 posted on 08/07/2011 10:05:28 AM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: Nachum

Don’t know if you caught it, but in the opening creditsfor MTP..they showed a pic of Goolsbee atanding next to David Wu and Obama..Three on a match, anyone?


4 posted on 08/07/2011 10:05:44 AM PDT by ken5050 (uities)
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To: Nachum

Our federal government wrote the book on “questionable mathematics.” Americans can no longer believe a word coming out of DC or the media.


5 posted on 08/07/2011 10:06:11 AM PDT by KansasGirl
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To: Nachum

...because Goolsbee just screams economic credbility, lol.


6 posted on 08/07/2011 10:06:57 AM PDT by americanophile ("this absurd theology of an immoral Bedouin, is a rotting corpse which poisons our lives" - Ataturk)
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To: Nachum

Our federal government wrote the book on “questionable mathematics.” Americans can no longer believe a word coming out of DC or the media.


7 posted on 08/07/2011 10:07:03 AM PDT by KansasGirl
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To: Nachum
Who to believe: Goolsby & Geithner, or Standard & Poors.

We are so screwed.

8 posted on 08/07/2011 10:07:25 AM PDT by hinckley buzzard
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To: Terry Mross

Don’t worry, Congress is going to investigate S&P! We have nothing to worry about!

(yes, that is sarcasm)


9 posted on 08/07/2011 10:08:11 AM PDT by KansasGirl
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To: Nachum

big deal ... 2 trillion is just a rounding error these days. isn’t that what the rulers in DC tell the peons every time we complain about government pork?


10 posted on 08/07/2011 10:08:43 AM PDT by JustaDumbBlonde (Don't wish doom on your enemies. Plan it.)
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To: Nachum
“They made a $2 trillion math error, and they didn’t check their work,” Goolsbee said on NBC’s “Meet the Press.”

Do tell, Austan.

I don't watch Press the Meat (or anything else on NBC [at least not until they put God back into The Pledge Of Allegiance]), did the modulator aks Ghoulsby to show him (or her) the math?

11 posted on 08/07/2011 10:09:22 AM PDT by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Nachum

It’s tomorrow’s mathematics, stupid.


12 posted on 08/07/2011 10:12:29 AM PDT by ex-snook ("Above all things, truth beareth away the victory")
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To: Nachum

America to Goolsby:

YOU’RE FIRED.


13 posted on 08/07/2011 10:13:18 AM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: Texas Eagle
“They made a $2 trillion math error, and they didn’t check their work,” Goolsbee said on NBC’s “Meet the Press.”

Things are looking up for S&P. If it turns out they made an error in paying their taxes then Obama will probably find room for them in his Cabinet.

14 posted on 08/07/2011 10:14:05 AM PDT by vbmoneyspender
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To: Nachum

S&P sez...

“Yes Sir, we did make a math error. It’s actually worse than we thought. You’re downgraded AGAIN!”


15 posted on 08/07/2011 10:18:27 AM PDT by moovova
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To: Nachum

Earth to Gooslbee get a new job!


16 posted on 08/07/2011 10:19:16 AM PDT by tallyhoe
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To: tallyhoe

Actually econ czar #4 Goolsbee is scheduled to go back to U. of Chicago soon.

AFAIK there’s been no replacement named.

Not sure how many takers there are for that job.


17 posted on 08/07/2011 10:22:14 AM PDT by nascarnation
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To: KansasGirl
The government have been lax in investigating fraud during the banking mess.... “the worst banking disaster since the great depression.”

And now this... they can't wait to investigate.

Makes one wonder.

The former: probably a lot their buddies had connections to the banks and rating agencies in question.

The later: S&P rating is bad press for Obama. Need I say more.

The Dems will sell their souls to protect one of their own, e.g., Bill Clinton (Paula Jones sexual harassment trial).

18 posted on 08/07/2011 10:23:26 AM PDT by dhs12345
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To: Nachum

Austan Goolsbee, boy genius.


19 posted on 08/07/2011 10:25:40 AM PDT by Cicero (Marcus Tullius.)
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To: Nachum

This is killing them at the White House. Yet, they remain arrogant. They Democrats are going to be completely wiped out in the next election. No amount of money from George SorryAss or Warren Buffett will help them.


20 posted on 08/07/2011 10:25:40 AM PDT by WashingtonSource
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To: Nachum
“They made a $2 trillion math error, and they didn’t check their work,” Goolsbee said on NBC’s “Meet the Press.”

I'm still waiting for one of these propagandists to explain the error, and for one worthless excuse for a reporter to ask them to explain it.

21 posted on 08/07/2011 10:51:47 AM PDT by FlyVet
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To: FlyVet

Exactly. Me too. I got on this thread thinking some reply from an economy-smart person would mention it.

Apparently nobody is explaining the 2 tril. error.


22 posted on 08/07/2011 11:28:21 AM PDT by squarebarb
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To: Nachum
Outgoing White House economic adviser Austan Goolsbee

Like any advisor to this White Hut would know anything about anything... please.

Why are you leaving, Gooley?

23 posted on 08/07/2011 11:44:05 AM PDT by hattend (As always...FUJM)
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To: Nachum

Any number that comes out of the Whitey House is revised three days later, but it’s everybody else’ numbers that are suspect.


24 posted on 08/07/2011 11:47:56 AM PDT by E. Pluribus Unum (Palin is coming, and the Tea Party is coming with her.)
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To: squarebarb
It's the most basic, simple question that needs to be asked, yet none of them will. Apparently they understand the mindlessness of the public very well.

"The 'news' people said it, therefore it must be true."

The only people who spoke out against the danger of our debt, well ahead of time, are the ratings agencies and the TEA Party, the ones these dirtbags are trying to blame. Makes me wanna tear my hair out.

25 posted on 08/07/2011 11:53:38 AM PDT by FlyVet
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To: WashingtonSource

Both D & R progressives will be thrown out in 2012 and 2014. All the blame naming shows that the Ruling Elites know what is about to happen to their ‘careers’.


26 posted on 08/07/2011 12:50:27 PM PDT by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: Nachum
Check your math, Goolsbee.

I wonder what it must be like to be a political hack under Obama.

Not pleasant, these days would be my guess.

27 posted on 08/07/2011 1:46:58 PM PDT by elkfersupper (Member of the Original Defiant Class)
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