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 ...
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.
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.
Like any advisor to this White Hut would know anything about anything... please.
Why are you leaving, Gooley?
Any number that comes out of the Whitey House is revised three days later, but it’s everybody else’ numbers that are suspect.
"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.
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’.
I wonder what it must be like to be a political hack under Obama.
Not pleasant, these days would be my guess.
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