President Barack Obama on Monday essentially dismissed the first-ever downgrade of the U.S. credit rating, trying to reassure investors and the public that the nation's leaders need only show more "common sense and compromise" to tame a staggering accumulation of debt.Yep, he damn sure took command again today didn't he. Once again, the president spoke and things got worse. The market visibly tanked today, faster than water poured out of a bucket, as he was speaking and once again was denying what is obvious to all. The bottom line, this administration and the democrats began their blame game yesterday with the Sunday talk shows. The common mantra decided upon, seems to be to blame the loss of our AAA rating on the Tea Party. "It's a Tea Party downgrade" mouthed David Axelrod and the others like John Kerry That's right friends and neighbors, Obama and Geithner and Kerry and Axelrod and the rest? They had absolutely nothing to do with any of it. It was all those radical hardliner republican Tea Party folks! Those are the ones to blame! They refused to compromise! At least according to this president that is his story and he is sticking to it.. But my absolute favorite comment since last Friday's S&P down grading of America's credit rating? Has to be the comment made my the Treasury Secretary Tim Geithner. Some may remember back during his confirmation hearing before the senate, Mr. Geithner expressed apology concerning a previous failure to pay his income taxes, blaming the oversight on his faulty understanding of "Turbo Tax" for the SNAFU. And here is the same man over the weekend, (now the Secretary of the Treasury) telling reporters that Standard & Poors had it all wrong as it concerned America's lending rating. According to Tim Geithner the S&P didn't really understand everything involved and therefore, made an erroneous assertion of rating. So there you have it folks. Tim Geithner basically has said that the S&P are idiots and it's all a matter of truly understanding the dynamics. Meanwhile the president and his regime have blamed the downgrade on everything from the Tea Party, to Barney Frank blaming the downgrade on the military. For the record. Military spending is presently 4% of GDP. During the Eisenhower administration? It was 10% Just saying........and as of this writing? The market tanked for the second consecutive day of trading. Down 634 points at closing.
Seeking to demonstrate command in a volatile economic climate, Obama said he hoped the decision by Standard & Poor's would at least give Congress a renewed sense of urgency to tackle debt problems. He said that must be done mainly by taking on the politically difficult issues of reforming taxes and entitlement programs in the coming months.
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Monday, August 08, 2011
The president taking command of the situation (again)
Liberals: Rule number #1 It's never your fault, always blame someone else.
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