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 & Poors on Sunday, charging the agencys 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 & Poors and urged the agency not to downgrade.
They made a $2 trillion math error, and they didnt check their work, Goolsbee said on NBCs 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 nations 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 ...
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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%!”
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?
Our federal government wrote the book on “questionable mathematics.” Americans can no longer believe a word coming out of DC or the media.
...because Goolsbee just screams economic credbility, lol.
Our federal government wrote the book on “questionable mathematics.” Americans can no longer believe a word coming out of DC or the media.
We are so screwed.
Don’t worry, Congress is going to investigate S&P! We have nothing to worry about!
(yes, that is sarcasm)
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?
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?
It’s tomorrow’s mathematics, stupid.
America to Goolsby:
YOU’RE FIRED.
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.
S&P sez...
“Yes Sir, we did make a math error. It’s actually worse than we thought. You’re downgraded AGAIN!”
Earth to Gooslbee get a new job!
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.
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).
Austan Goolsbee, boy genius.
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.
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