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President Obama talks S&P downgrade finally
Washington Post ^ | Aug 8 2011 | By Jena McGregor

Posted on 08/08/2011 1:45:32 PM PDT by NoLibZone

It was about time the president weighed in with a statement about the U.S. credit rating downgrade by Standard & Poor’s. And that’s not just because the reporters in the room were getting antsy after the president was 50 minutes late getting started.

Rather, Obama’s press briefing Monday afternoon about the Standard & Poor’s downgrade came after a weekend in which the primary messaging strategy from the White House seemed to be excuses. Following a bizarre back and forth Friday evening in the news over whether the ratings agency got its math right—a “has it really come to this?” moment if there ever was one—the Treasury Department posted a blog entry called “Just the Facts: S&P’s $2 Trillion Mistake.” Senior administration officials were calling it political and “a facts-be-damned decision.” Obama, meanwhile, remained publicly mum.

On Monday afternoon, there was less finger pointing, even if the president did refer to S&P as “some agency” and invoked the words of Warren Buffett (who said he’d give the country a AAAA rating if there was one) to cast doubt on their decision. He called our problems “imminently solvable.” He said he would be putting together his own plan for consideration by the so-called Super Committee. And he laid out a range of oft-repeated steps—extending the payroll tax deduction and unemployment insurance, investing in infrastructure—for helping to improve the economy.

As a result, I’d say the president’s statement failed not due to what he said or didn’t say, but when he said it. Saturday morning might have been a much better moment than 50 minutes late on Monday afternoon. When something as unprecedented and historic as S&P’s Friday evening decision occurs, people aren’t necessarily looking for immediate solutions. But they do want immediate reassurance.

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


TOPICS: Business/Economy; Culture/Society; Extended News
KEYWORDS: 8811; 882011; aug82011; august82011; barackalypsenow; bho44; bhoeconomy; debtmanwalking; downgrade; obama; obamadowngrade; obamageddon; standardpoors; stockmarket; stocks; treasury

1 posted on 08/08/2011 1:45:37 PM PDT by NoLibZone
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To: NoLibZone

2 posted on 08/08/2011 1:46:35 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
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To: NoLibZone
As a result, I’d say the president’s statement failed not due to what he said or didn’t say, but when he said it.

Wrong. It failed because of what he said, what he didn't say as well as when he said it.

3 posted on 08/08/2011 1:50:12 PM PDT by Siena Dreaming
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To: NoLibZone

Ronald Reagan accepted all responsibility for things that went wrong during his tenure as President. Obozo makes statements assigning blame to others for things that go wrong under his watch. How did we go from Ronald Reagan to this clown???


4 posted on 08/08/2011 1:55:26 PM PDT by SoldierDad (Proud dad of an Army Soldier currently deployed in the Valley of Death, Afghanistan)
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To: NoLibZone

Why is it the Tea Party’s fault that S&P made a $2 trillion error?


5 posted on 08/08/2011 1:59:36 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: NoLibZone
Zero's speech was, from the clips I've seen, nothing more than finger-pointing (away from him and the Dems).

He's destroying the U.S. economy deliberately.

6 posted on 08/08/2011 2:05:23 PM PDT by jeffc (Prayer. It's freedom of speech.)
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To: Terry Mross
Why is it the Tea Party’s fault that S&P made a $2 trillion error?

Because George Soros pays Big Media big money to say it's The Tea Party's fault so it's The Tea Party's fault.

7 posted on 08/08/2011 2:06:08 PM 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: Terry Mross

Why is it the Tea Party’s fault that S&P made a $2 trillion error?

Exactly!

And oh yeah the 2t, that’s the 2 trillion Rush said Obama added to the debt last August!

Obama will never acknowledge that he added at that 2T to our debt!


8 posted on 08/08/2011 2:08:32 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
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To: NoLibZone
LIBERAL WRECKING
9 posted on 08/08/2011 2:21:35 PM PDT by Wings-n-Wind (The main things are the plain things!)
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10 posted on 08/08/2011 2:26:50 PM PDT by KneelBeforeZod (I have five dollars for each of you)
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