The Conservative Cave

Current Events => General Discussion => Topic started by: CG6468 on April 19, 2011, 01:22:48 PM

Title: The Pile of Lies Has Spoken
Post by: CG6468 on April 19, 2011, 01:22:48 PM

If brains were bones, this asshole would be a banana.

Quote

Obama Plays Down S&P Outlook Change
Published: Monday, 18 Apr 2011 | 12:28 PM ET

The Obama administration moved swiftly Monday to downplay ratings agency Standard & Poor's downgrade of its U.S. credit outlook, calling the decision a political judgment that should not be taken too seriously.

The timing of S&P's announcement was unwelcome for the White House, coming just as President Obama tried to regain the initiative on the deficit debate in Washington.

Last week Obama laid out his plan to reduce the budget deficit by $4 trillion over 12 years, trying to give markets confidence that he was serious about tackling U.S. fiscal woes.

House Republican leader Eric Cantor on Monday called the S&P downgrade "a wake-up call" against those seeking to "blindly increase" the U.S. debt limit.

S&P downgraded the outlook for the United States to negative, saying it believes there is a risk U.S. policymakers would not reach agreement on how to address the country's long-term fiscal pressures by 2013.

So much for market confidence.

The White House strategy:

Empty headed comments (http://www.cnbc.com/id/42645647)