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View Full Version : Obama Everyone relax, President Downgrade will speak at 1 PM Eastern


HonestChieffan
08-08-2011, 10:18 AM
This will be special....

http://weaselzippers.us/wp-content/uploads/2011/08/Obama_towel.jpg

petegz28
08-08-2011, 10:20 AM
I feel better now....

Donger
08-08-2011, 10:21 AM
Let me guess: "Corporate jets, millionaires, Big Oil, blah, blah, blah..."

BucEyedPea
08-08-2011, 10:22 AM
Is he trying to ressurrect FDR's fireside chats but with new technology. I know he studied FDR during the start of this crisis and tries to emulate him. He's doing a good job at that emulation in that he's made the economy worse—just like FDR who dragged the Depression out for at least ten years.

petegz28
08-08-2011, 10:23 AM
Let me guess: "Corporate jets, millionaires, Big Oil, blah, blah, blah..."

You left out "shared sacrifice"

BucEyedPea
08-08-2011, 10:24 AM
You left out "shared sacrifice"

That's something Lenin would have said.

HonestChieffan
08-08-2011, 10:33 AM
I tried, they opposed me
Things are not as bad as seem
S and P is wrong
Bush
Revenues
Rich people
Taxes, Bush Tax Cuts
I tried, they opposed, radical elements in the house
Treasury has the right figures, everyone else is wrong
Jobs, need jobs
$4trillion was offered in cuts last week.
Jets.
This week, I want to spend to save my job, er er er, jobs
Bush
Them
House republicans
Hope
God Bless America

alpha_omega
08-08-2011, 10:35 AM
"Let me be clear..."

blaise
08-08-2011, 10:38 AM
He's going to say the US was a victim of identity theft which ruined our credit, but we have since signed up with Life Lock and we should be good.

HonestChieffan
08-08-2011, 10:46 AM
Should be interesting to see who he demonizes and how he respins his cooked up numbers...people are catching on. And this fireside chat shit is growing really really old.

http://www.washingtontimes.com/news/2011/aug/8/obamas-tantrum-against-sp/

EDITORIAL: Obama’s tantrum against S&P
White House cooks the books to project imaginary growth



Standard & Poor’s historic downgrade of the U.S. credit rating is an attempt to bring adult oversight to the political squabbling over out-of-control government spending. But rather than “eating his peas,” President Obama is throwing a tantrum.

The day after the S&P action, the White House took aim at the messenger. Administration officials launched a blistering attack on the agency’s integrity, accusing S&P of employing flawed methodologies and making basic math errors in its analysis. When the bureau acknowledged and corrected one of the problems, chief White House economic advisor Gene Sperling pounced, saying that the credit downgrade “smacked of an institution starting with a conclusion and shaping any arguments to fit it.”

Well, look who’s talking. A review of White House budget proposals from 2009 to present reveals a series of long-term economic assumptions that torture credulity in service of Mr. Obama’s big-government agenda.

According to the fiscal 2010 budget proposal, released in February 2009 and modestly entitled “A New Era of Responsibility,” prosperity was just around the corner. The projected gross domestic product for 2009 was almost zero, but in 2010 the Obama administration foresaw 3.43 percent growth, followed by 5.23 percent in 2011 and an astonishing 6.26 percent in 2012. By 2015, this would level out to a comparatively modest but objectively unrealistic 4.45 percent, which was the default assumption out to 2019. These growth dreams were laughable. Without credible rationale, the White House posited that the U.S. economy would grow at a record pace for almost 20 years. This red-hot growth projection was necessary, however, to justify and cover the record levels of government spending Mr. Obama was planning.

White House long-term deficit projections were wrongly rosy as well. According to Mr. Obama’s first budget, the projected $1.2 trillion deficit for 2010 would be sliced in half to $533 billion by 2013. This red ink would creep slowly up to $712 billion by the end of the decade but would still be around 3 percent of the mammoth projected GDP.

Two years later, the economy isn’t producing the benefits Mr. Obama promised. Growth has been anemic rather than robust, and deficits have skyrocketed rather than receded. Never mind, the fiscal 2012 budget proposal gives the impression that everything is going according to plan. The administration still projects almost 4 percent growth this year, when most economists who aren’t in Mr. Obama’s employ predict 1 percent to 2 percent growth. The Obama budget predicts the economy will surge in the out years, growing between 4.36 percent and 6.15 percent per year for the rest of the decade. And through some inexplicable numerical magic, the projected yearly deficits for the period after 2017 are even lower than the absurd numbers offered in the 2010 budget. These outlandish figures are an insult to the national intelligence.

The projected job impact of the budget-busting “stimulus” plan, issued two weeks before Mr. Obama took office, is another important document revealing the haplessness of White House economic assumptions. According to this study, the unemployment rate with the stimulus plan in the third quarter of 2011 was supposed to be 6.5 percent, instead of the current 9.1 percent. Doing nothing would have yielded 7.7 percent unemployment. Even by their own economic estimates, doing nothing would have been better for America than what the Democrats did.

The White House’s baloney growth and deficit projections are the type of politically motivated numbers that caused S&P to question the ability of the United States to end its orgy of deficit spending. Rather than waging political war on the ratings agency, the White House should come clean and submit a budget proposal with honest assumptions that better reflect the damage Mr. Obama has wrought on the economy.

alanm
08-08-2011, 10:54 AM
Does anyone really care what this guy blows out of his ass anymore?

Chief Henry
08-08-2011, 10:54 AM
You left out "shared sacrifice"

and balanced debt reduction plans :rolleyes:

blaise
08-08-2011, 11:01 AM
"Fair share"

CrazyPhuD
08-08-2011, 11:31 AM
"Fair share"

If I pay my fair share when do I get my fair share?

blaise
08-08-2011, 11:33 AM
If I pay my fair share when do I get my fair share?

To each according to his needs.

petegz28
08-08-2011, 11:39 AM
Fucker is late to the game.....go figure

HonestChieffan
08-08-2011, 11:47 AM
Totus had a meeting, long lunch.

blaise
08-08-2011, 11:48 AM
The electrity got turned off for lack of payment.

petegz28
08-08-2011, 11:55 AM
This idiot actually thinks the "debate" over the debt ceiling was the problem. JFC. :facepalm:

petegz28
08-08-2011, 11:55 AM
Here we go...tax hikes....

ChiTown
08-08-2011, 11:56 AM
Well, that didn't take long. He blames the prolonged debate over the debt as one of the main reasons for the poor rating.

Uh, no, Teleprompter and Chief, it's because our spending is out of fucking control, and Congress can't put together a fkn budget.

petegz28
08-08-2011, 11:56 AM
Did he just say "common sense"?? Common sense says not to spend more than you have, dumbass.

petegz28
08-08-2011, 11:57 AM
I agree, Obama, it is a lack of political will in Washington. It's a lack of will to quit spending what you don't have.

petegz28
08-08-2011, 11:58 AM
Well, I fell better now..Obama has a plan and will stay on it until the job is done....

petegz28
08-08-2011, 11:58 AM
Ok, on one hand we tax hikes, on the other we need to extend tax cuts....

CrazyPhuD
08-08-2011, 12:03 PM
To each according to his needs.

I need my paper now, I have hos to pay.

HonestChieffan
08-08-2011, 12:03 PM
Im amazed....speechless

CrazyPhuD
08-08-2011, 12:05 PM
Looks like the markets are happy with obama's little speech.

Donger
08-08-2011, 12:14 PM
Obama said financial markets around the world "still believe our credit is triple-A. I and the world's investor's agree."

Holy shit. He sounds like Frankie.

KCChiefsFan88
08-08-2011, 12:15 PM
Will Congress cut short their 5 week vacation to start making the additional necessary cuts? How about getting the ball rolling on the "Super Committee"?

What an absolute mess.

This could be resolved in 2 days by non-politicians... i.e. business leaders.

Bewbies
08-08-2011, 12:17 PM
Will Congress cut short their 5 week vacation to start making the additional necessary cuts? How about getting the ball rolling on the "Super Committee"?

What an absolute mess.

This could be resolved in 2 days by non-politicians... i.e. business leaders.

Herman Cain FTW! :evil:

FishingRod
08-08-2011, 12:33 PM
This idiot actually thinks the "debate" over the debt ceiling was the problem. JFC. :facepalm:

Well of course someone actually pointing out that our budget/amount of debt is FUBR, is holding the country hostage and they are terrorists. I will say I am disappointed in the end result which was Trillions more put on our collective credit card with nothing done to address the problem. For all the posturing this IMO was a surrender to big government , out of control spending and nothing short of stealing from the pockets of our children. I received an e-mail just this morning which was an article called starving the beast that in the middle had the jewel said ď Never ,mind that most big government programs are far more efficient than their private equivalents. Thatís a mere fact. Canít let that get in the way of starving the beast. The Beast of course was the Government that the mean Conservatives have starved of funding. Sadly the 5'4" beast now weighs a mere 900 lbs is dining on Lobster and prime-rib while sipping Champaign all the while putting the tab on our credit card.

ChiTown
08-08-2011, 12:35 PM
Obama said financial markets around the world "still believe our credit is triple-A. I and the world's investor's agree."

Holy shit. He sounds like Frankie.

http://newsimg.bbc.co.uk/media/images/39065000/jpg/_39065561_saed203ap.jpg

thecoffeeguy
08-08-2011, 12:40 PM
Wow....what a complete jackass.
What a piss poor leader.

Chief Faithful
08-08-2011, 12:43 PM
"Fair share"

Still looking for that definition of "fair".

HonestChieffan
08-08-2011, 12:49 PM
I wonder if that was a fill in Totus. Like Totus1 may be already the the fundy for tonight so they got this one.


Surely to hell this was not expected to reassure people. Surely this White House could see this was really weak. Tell me, they don't do shit like this and expect a positive reaction.

Donger
08-08-2011, 12:51 PM
I wonder if that was a fill in Totus. Like Totus1 may be already the the fundy for tonight so they got this one.


Surely to hell this was not expected to reassure people. Surely this White House could see this was really weak. Tell me, they don't do shit like this and expect a positive reaction.

See the 2008 election for POTUS.

CrazyPhuD
08-08-2011, 12:53 PM
I wonder if that was a fill in Totus. Like Totus1 may be already the the fundy for tonight so they got this one.


Surely to hell this was not expected to reassure people. Surely this White House could see this was really weak. Tell me, they don't do shit like this and expect a positive reaction.

Obama had some expiring put options he needed to make sure would cover.

FishingRod
08-08-2011, 12:56 PM
"Fair" would be the other guy paying enough taxes so that he has less stuff and I get more Free stuff so that he and I have exactly the same amount of stuff. Except for the lazy people that have less stuff than I do, F them.

trndobrd
08-08-2011, 01:37 PM
http://newsimg.bbc.co.uk/media/images/39065000/jpg/_39065561_saed203ap.jpg


Debbie Wasserman Schultz was speaking today?