White House Workin’ Both Sides of the Downgrade: S&P made “a facts-be-damned decision” and the Republicans didn’t give O “a grand bargain”
But no matter what, the man hiding in the back room — who never offered a plan — cannot be responsible.
(CNN) — A senior Obama administration official is calling Standard & Poor’s move to downgrade U.S. credit “a facts-be-damned decision,” saying the rating agency admitted to an error that inflated U.S. deficits by $2 trillion.
U.S. Treasury officials received S&P’s analysis Friday afternoon and alerted the agency to the error, said the administration official, who was not authorized to speak for attribution.
The agency acknowledged the mistake, but said it was sticking with its decision to lower the U.S. rating from a top score of AAA to AA+.
“This is a facts-be-damned decision,” the official said. “Their analysis was way off, but they wouldn’t budge.”
Other sources familiar with the S&P matter called the move political and said the decision was rushed out too quickly.
The White House is now in wait-and-see mode — hoping the decision and the S&P analysis face outside scrutiny, the official said.
(The Hill) — The White House reacted to the Standard & Poor’s downgrade of the U.S. credit rating by calling for more bipartisan compromise to “put our nation on a stronger fiscal footing.”
But the administration didn’t miss the chance to say, in essence, “I told you so.”
“Over the past weeks and months the President repeatedly called for substantial deficit reduction through both long-term entitlement changes and revenues through tax reform, with additional measures to spark jobs and strengthen our recovery,” press secretary Jay Carney said in a statement.
“That is why the President pushed for a grand bargain that would include all of these elements and require compromise and cooperation from all sides.”
Posted by WM on Saturday, August 6, 2011, at 3:25 pm | 
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This is so much like the carter years its unbelievable.
Butt this one has the kenyan muzzie factor.
This bitch has to go NOW
Someone needs to tomato this goon during his bus tour.
100% of the demoncrap party, and 80% of the repugnentcan party are not about to give up their gravy train of other peoples money to use to buy votes to get re-elected.
Until we change those percentages at the ballot box, we are doomed to become a second rate country.
Carter’s reportedly ecstatic he lived to see this day, he can now go to the big sleep knowing he is no longer the worst president in living memory. O’bamao has this honor cinched up now.
Hey, Obama, one can be off by a trillion or so and still draw the conclusion that the country is broke.
Didn’t the Hill also publish that President Turd was told to leave the negotiations?
Facts? The fact is that we’ve borrowed enough to equal the entire GDP. The fact is that Obama has added to the debt 4.5+ trillion dollars, which is 50% of all the money we as a nation has ever borrowed. The downgrade questions our ability to pay it back because the Dems have NO PLAN to pay it back. The amount is too great. Even the Chinese are chiding us on our spending.
S & P is clearly racist.
In reality Obuttma at Camp David partying down at this news. Another giant stride towards his ultimate goal of destruction of this Republic and the impostion of a dictatorship.
We cannot afford to have the Clown Prince of Communists remaining in office for much longer. Like a day. Pray, Pray harder than you have ever prayed before that somehow, someway he is removed as President of this nation. As a bonus that beast of a wife would cease to be the First Harridan and hopefully would end up slinging burgers and fries at McDonalds.
What a pathetic loser.
We don’t deserve a triple A credit rating, we blew it with our complacency over the last few decades, by not paying attention. We rested on our laurels and enjoyed a pretty good run, at the expense of our future generations. Now granted I don’t put a lot of creedance in S&P and Moody’s, they are the agencies that gave high marks on the junk mortgage backed funds that really ignited an already volital situation. But aside from that, the world does pay attention… We are facing a painful future, if not now, in a matter of months, it is coming. The longer we wait, the greater the pain and the longer it will take to fix. In fact “fixing” almost seems futile at this point, but unfortunately that’s how our system works. Maybe this is the kick the pants we need to stand up and take control over what was ours in the first place… A government by the people for the people. The pink slips go out in November!!! Another four years of BHO will bring the end of America as we have known it. It’s exactly what he promised us…
I suppose I could have missed the moment, because I mute the TV whenever Obama appears – but has he ever spelled out exactly what his “grand bargain” is?
“Over the past weeks and months the President repeatedly called for substantial deficit reduction”
Ummm, no.
Months ago Obama was no where to be seen and he certainly wasn’t talking about deficit reduction. He wanted two things. 1) A clean bill to increase the debt ceiling. 2) More taxes so that he could spend more money.
All the Republicans did was give Obama a dead cat bounce.
Hey Obama!
“We must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty or profusion and servitude.” –Thomas Jefferson.
Why are you proposing the opposite of Jefferson? Who is being “extreme” here?
“Over the past weeks and months the President repeatedly called for substantial deficit reduction through both long-term entitlement changes and revenues through tax reform, with additional measures to spark jobs and strengthen our recovery.” –press secretary Jay Carney
I call bullshit. Obozo and the Dems repeatedly gloated at how they’d succeeded in defending Social Security, Medicare and Medicaid from even the tiniest, symbolic cut in benefits.
They had 3 goals: 1) lift the ceiling enough to not have the issue hanging over their heads before the November election; 2) no cuts–not even small ones–to entitlement programs; and 3) close tax loopholes used by evil rich corporations and rich citizens.
They won on the first two. The Republicans stupidly conceded those two to the Dems in exchange for a useless win on the third.
what a strange photo, like a bad little boy in the corner
“Over the past weeks and months the President repeatedly called for substantial deficit reduction through both long-term entitlement changes and revenues through tax reform, with additional measures to spark jobs and strengthen our recovery,” press secretary Jay Carney said in a statement.
“That is why the President pushed for a grand bargain that would include all of these elements and require compromise and cooperation from all sides.”
____________________________
What unmitigated gall!!!
Somebody needs to pull out that budget Obama presented to the Senate (the one that got zero votes), and post it on the internet under the heading “The President’s Plan for Deficit Reduction”. Alongside it, they need to post what the actual increases in spending would be with Obama’s plan.
Not a halo picture, but standing in a beam of divine light.
@JB
I looked at the photo and thought, look at that paranoid crackhead peeking out the window blinds
JB says:
August 6, 2011 at 4:31 pm
what a strange photo, like a bad little boy in the corner
*******************************************************
…making a wee-wee
HEY OBAMA, BUT, BUT, BUT, I THOUGHT YOU KNEW HOW TO RUN A COUNTRY, YOU RAN IT ALL RIGHT, INTO THE GROUND…………
He is peeking out draperies Probably trying to hide from those that wamt a comment about the lowering of or credit rating//or from those wanting a comment about losing our Navy Seals today.
He may come out of hiding after he recovers from his hang over a little more!!
Always an excuse.
.
He’s hiding from the Wookie…
only she is allowed to have 1,700 calorie meals…
This picture makes him look like he is peeking out the window, to see if the coast is clear.
This picture is EXACTLY why he has the nickname ‘The Lightworker’. See this list for more Obama nicknames:
http://aconservativeteacher.blogspot.com/2010/02/obama-nicknames.html
We should have left Afghanistan and Iraq years ago. These were major costly mistakes. We should now close down nearly all our overseas military bases. This would save a ton of money. We need to raise taxes for those making over $250,000/yr…bring it up to 40-50% maximum Federal income tax. We should cut business tax loopholes. Then we must reduce entitlements. Social security and Medicare should be raised from 65 years to 70 years. The pain must be shared at every income level. America is still going downhill but lets all suffer together.
See even when he takes a piss in the corner of the WH to mark his territory does it appear that he is peeing steams of divine urine……….I’d bet he has tried to piss in every corner…….
Someone please put a tack in obamas chair or use a whoopie cousion