Skip to comments.Obama fails to reassure markets after S&P move (Obama can't fix what he broke)
Posted on 08/08/2011 3:47:45 PM PDT by tobyhill
What should a U.S. president say to stop stock markets from falling and reassure Americans that the country will be able to solve its debt and deficit problems?
President Barack Obama's first public comment about Standard & Poor's downgrade of U.S. debt to AA-plus from the top-notch AAA was not enough to stop a market plunge of 600 points, with investors uncertain if Washington can overcome political gridlock.
Here is a look at what Obama tried to achieve:
* Reassurance. Obama wanted to underscore to Americans that the United States remains the economic envy of the world despite the credit downgrade and will work its way through its fiscal problems.
"Markets will rise and fall, but this is the United States of America. No matter what some agency may say, we've always been and always will be AAA country," he said.
* Persuasion. Obama sought to use the S&P downgrade to his advantage in a long-running dispute with congressional Republicans over how best to stem Washington's red ink.
(Excerpt) Read more at reuters.com ...
Kenyan Blue Lips, can’t even talk on his own.
My A$$! The guy can't even look us straight in the eye - it is disturbing!
A lot of what he said was a repeat of what he said when the most recent unemployment numbers were stated. It did not impress the markets then, either. What was the definition of insanity the Einstein delivered about 100 years ago? Was it, “Insanity is doing the same thing and expecting different results?”
My bad. I forgot that this time Obama skewered S&P by quoting Buffet.
“If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level we can understand.”
If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level we can understand.
Then S&P downgraded Buffet’s company today (Berkshire Hathaway )
Obama’s plans for destroying America are right on track.
I’ll bet if Sarah Palin had spoken instead of Obama, the market would have slowed its drop considerably, but then again, if Sarah Palin were President there would have been no 08-08-11
Buffett was yapping all weekend long about how credit worthy we “really” are then that happened.
I think he wants to encourage the market to go down so far that, by the time of the election season next year, it has no where to go but up. Seeing as most Americans have short memories, he thinks this will get him votes. He’s sick.
So funny, I posted something very similar earlier today, yours is better, but you have to add how much they add to their debt each by overspending and then show the total debt 10 years out.
CORRECTION!!!!!! Community organizer tries to reassure markets, there I fixed it, makes more sense now
The only idiot president that hasn’t held a single job in his life and no one can find even one single student he taught in his “Constitutional Law” classes
Obama reassuring the nation that his administration will overcome the market meltdown is analagous to an arsonist mouthing reassurance he will extinguish the fire.
It doesn’t help that the bonehead was MIA for almost 3 days.
Whata pathetic excuse this guy is.
I was surprised they did it today after he was blasting S&P’s decision, it’ like a circular firing squad
Search terms “obama threatens veto spending bill july”
I can find specific stories going back at least to July 15th.