Obama Blames Debt Downgrade

August 8, 2011 by USA Post 

Obama Blames Debt DowngradeObama Blames Debt Downgrade, At the White House this afternoon, Obama attributed Standard and Poor’s lowers credit rating of U.S. a lack of will in Washington to implement the necessary solutions.

After “a month of discussions” on top of debt, S & P doubt “the ability of our political system to act,” Obama told reporters. He insisted “we do not need a rating agency to tell us the stalemate in Washington… Has not been constructive – to say the least.”

Echoing his fellow Democrats on talk shows yesterday, Obama blamed “a lengthy discussion, which used the threat of default as a bargaining chip” for the rebate. “The threat… Has roiled the markets,” he said.

Giving a more positive note, the president said “our problems are solvable imminent” and identified two solutions to the current crisis: the tax reform “to ask those who can afford to pay their fair share” and “minor adjustments” the right programs.

List of previous failed attempts at reform – the Gang of Six, talks with Rep. John Boehner, etc – Obama said “there are plenty of good ideas on how to achieve long-term deficit reduction is not an obstacle economic growth right now. ”

Failure was not an issue of ideas, but lack of will. There was too much “emphasis on drawing lines in the sand” – “. Refusal to make the best for the country ahead of self interest, or a party or ideology,” a

At the same time, Obama acknowledged that most Americans still worried about the economy. He offered two suggestions to stimulate economic growth: the expansion of the payroll tax cut “as soon as possible” and to extend unemployment insurance benefits. Not doing so could mean “jobs and 1 million less than half the growth percent less,” he said.

“This is not about Democratic proposals,” argued Obama. “This is not the big government proposal.” Instead, they were “all ideas that Republicans traditionally have agreed.”

In his closing speech, the president paused to greet the 30 U.S. soldiers killed in a helicopter crash in Afghanistan over the weekend.

Praising their service, the president concluded that Americans – including, presumably, politicians – “. It reflects his courage, commitment and sense of common purpose” necessary to maintain America

Report to Team

Please feel free to send if you have any questions regarding this post , you can contact on

Disclaimer: The views expressed on this site are that of the authors and not necessarily that of U.S.S.POST.


Comments are closed.