Obama Finally Speaks On S&P Downgrade That Threatens His Presidency
After taking a much needed break away from DC politics over the weekend, U.S. President Barack Obama is set to speak publicly on the S&P credit rating downgrade of the United States. This downgrade, which has never occurred in U.S. history, almost certainly ends any hopes of Mr. Obama getting re-elected.
The video is provided courtesy of MSNBC.
81 Responses to “Obama Finally Speaks On S&P Downgrade That Threatens His Presidency”
Comments are closed for this post
Recent Posts
- 80-year-old woman’s 1st skydiving jump goes horribly wrong (Video)
- Relax, ladies! Eddie Murphy is still on the market
- Sean Combs’s Son Lands $54,000 Scholarship, While Dad Brags About Dropping $2M at Strip Clubs
- Not So Blind Item
- Will Smith Says his kids won’t ‘break’ under the weight of independence
Hot Topics
Dont believe the hype… Americans need to stop spending money that they dont have.. it sound cliche but stop trying to keep up wit hthe jones.. Forget credit and spend what you have.. The american way has designed your priorities to live and depend on credit.. Trust theres a way around it ..Pay attention
off topic… Kanye said he feels like hitler.. Pray for the man
Honestly, we are screwed regardless of who “they” put in office. Obama can not fix this shyt by himself and the “others” are only concerned about themselves and the next jet purchase. They are making way for the Amero
Jesus take the wheel!!!!
All elections are important but this next one will be crucial. I used to think that a 2nd term for him would be an easy win but unfortunately, I don’t have that view anymore.
I know that I (and some family members) really need to buckle down and get things done NOW because when/if a Republican gets in to office, it’s going to be even more tough than it is right now. I’m convinced.
The downgrade isn’t his fault. I blame this whack a*s Tea Party who made the Debt Ceiling a big issue and refused to raise it until they got what they wanted.
They made all these demands but weren’t willing to make any sacrifices. One of the main things they were trying to avoid happened anyway.
Bullsh*t politics.
Romney 2012!….lol Only watching to hear him say he will not run for re-election !
I still think he has a great chance at getting elected because people don’t want to see a republican in office. Look at what happened when the republicans refused to raise the debt ceiling?????
S&P has already stated that Obama’s administration was NOT the only one who led to America’s financial crisis.
GOPers just will NOT accept the fact this WAR is what caused us bankrupcy.
What Weapons of Mass Destruction again??
@LuvMySailor EXACTLY! They keep blming the deficit on Obama and saying that he’s spending so much BUT doesn’t most of the debt com from 2 wars started under Bush and the Bush tax cuts???? They just refuse to put the actual facts out there. They blame everything on Obama. Even the credit downgrade which they had a hand in f*cking up.
LuvMySailor says:
S&P has already stated that Obama’s administration was NOT the only one who led to America’s financial crisis.
GOPers just will NOT accept the fact this WAR is what caused us bankrupcy.
What Weapons of Mass Destruction again??
________________________________________________________________________
Yep and how many billions a day?
This shouldn’t threaten his presidency cause the ball had already started rolling on these issues years before his name was even whispered as possibly running. Too many people want to throw blame without looking at themselves. This country spends more than it brings in and the people in charge who can turn that around are too caught up in polarizing government and bending over and taking one up the ass for the big corporations that they can’t or won’t see that. The president f-d up when he decided to work out the debt ceiling bill instead of just doing what had to be done and telling them to kiss his ass but that doesn’t make this his fault either. He just needs to grow some balls and tell these dumb politicians to kiss his ass on certain issues but I digress
LuvMySailor says:
S&P has already stated that Obama’s administration was NOT the only one who led to America’s financial crisis.
GOPers just will NOT accept the fact this WAR is what caused us bankrupcy.
What Weapons of Mass Destruction again??
___________________________________________________________________
:cosing: @Luv
@luvMySailor
oops
Cinderella says:
LuvMySailor says:
S&P has already stated that Obama’s administration was NOT the only one who led to America’s financial crisis.
GOPers just will NOT accept the fact this WAR is what caused us bankrupcy.
What Weapons of Mass Destruction again??
___________________________________________________________________
The Iraq war has costed this country trillions of dollars. Alot of that money was actually borrowed from the Chinese. And 8 years later, we still haven’t found any weapons of mass destruction and the Iraqi people are no safer than they were before the war. It’s easy to point the finger at President Obama but the former President caused this mess. Now he’s sitting in Texas without any blame.
______________________________________________
:appluase:
* Waits for Still a Sassy one. *
Cinderella says:
LuvMySailor says:
S&P has already stated that Obama’s administration was NOT the only one who led to America’s financial crisis.
GOPers just will NOT accept the fact this WAR is what caused us bankrupcy.
What Weapons of Mass Destruction again??
___________________________________________________________________
The Iraq war has costed this country trillions of dollars. Alot of that money was actually borrowed from the Chinese. And 8 years later, we still haven’t found any weapons of mass destruction and the Iraqi people are no safer than they were before the war. It’s easy to point the finger at President Obama but the former President caused this mess. Now he’s sitting in Texas without any blame.
BNatural says:
really need to buckle down and get things done NOW because when/if a Republican gets in to office, it’s going to be even more tough than it is right now.
~~~
Its called the last days.. No man in office will help the world. Tp,demo, or repub.. Obama i believe will be reelected its predestined.. anyways just know this has to take place before our father comes back! We ina war yall
Really- now it’s Obama’s fault that the S&P rating for this financial blackhole of a country has gone down? Because we CLEARLY weren’t in debt previously….
Because there isn’t a war going on that we haven’t been able to make a payment on in almost a decade….
Because that war was CLEARLY started under Obama….
Because the GOP and the rest of the Teabaggers CLEARLY have not a damn thing to do with why this issue has not been resolved…..
And because the greedy azz corporations that every senator and congressman are getting their pockets lined by are CLEARLY not our for their own interests and basically “buying” votes in DC…
ClEARLY, clearly, this is a mess that Obama started, dwelled in, and wants to continue to dwell in…..CLEARLY.
You know what- fukk politics as a whole. Call em when the revolt starts. Until then, fukk em’ and join em. It’s enough room for a few more rich bad guys in the world. They’re getting theirs, get yours…
I’m over it.
Six incumbent presidents have been unseated. As long as we have the likes of Palin, Bachman, etc running. Obama is good to go.
The word I’m hearing is that Mr. Obama will announce he won’t seek re-election in 2012
If he does, I don’t blame. That gorgeous man is graying a mile a minute. It is a stressful job. Damned if you do, damned if you don’t. People are blaming him for those 30 military members that were killed, blaming him for the credit downgrade, blaming him because gas is high. You can have that.
The word I’m hearing is that Mr. Obama will announce he won’t seek re-election in 2012
———————————————————–
Where is this word datchu heard?
Sandra I really really hope he doesn’t just give up… although I can understand if he wanted to
@Sandra
I’ll lose more respect for him if he doesn’t run. Those racist jerks WANT him to quit. I want him to get a 2nd term just so he can REALLY show his azz since he won’t have to worry about getting re-elected.
All I ask is for him to the next time Boehner and his crew start talking bs to him, roll his eyes, say: “nigga please.” Raise up, and walk the hell out on em.
I’d LOVE IT!!!
Reuters reports: “The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday, in a dramatic reversal of fortune for the world’s largest economy.” The new rating is AA+.
In explaining their decision Standard & Poor’s cites both the decision by Republicans in Congress to turn the debt ceiling into a political football and the Republicans intransigence on tax increases. Some excerpts from the release:
[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.
[...]It appears that for now, new revenues have dropped down on the menu of policy options.
[...]The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.
[...]Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.
Standard & Poors indicates that they could improve their rating for the U.S. if “the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating.”
KDub says:
The word I’m hearing is that Mr. Obama will announce he won’t seek re-election in 2012
———————————————————–
Where is this word datchu heard?
————————–
————————————————————
What I say
Sandra said she had da word to da day…I just asked her where it was she heard it.
Everybody wants to blame the President for everything when in actuality he does not have the last word. The republican party does. He just takes the hits.
Sandra Rose says:
The word I’m hearing is that Mr. Obama will announce he won’t seek re-election in 2012
I hate to disagree with you. So I wont, but *wishful hearing*
Our PRESIDENT. Does not even get RESPECT from his colleagues and especially not his constituents. If he wants to BOW OUT let him. They don’t respect him anyway. At least he’ll retire with a LIFETIME pension for 4 years of work. So in all reality our PRESIDENT is #WINNING either way. BUMP them haters OBAMA
@SANDRA
“The word I’m hearing is that Mr. Obama will announce he won’t seek re-election in 2012″
__________________________________________________________________________
I heard the same thing…
@Sandra My mama always said “a lie don’t care who tells it long as it gets told” I won’t be holding my breath waiting on PRESIDENT Obama to announce he won’t be seeking a 2nd term.
That being said I think the debt deal sucks and I would have loved to see President Obama stand up to the Reps. looks like things still went to hell in a hand baskets all the same anyway.
They can cut all they want but we won’t catch up until everyone including Billionaires and Corporations pay their fair share. Google “corporations that paid no tax in 2009 or 2010″ and see how many are on the list. High as gas is we still give subsides to companies like exxon, shell and connoco to the tune of 280 billion. Verizon employee are on strike because they want to take away their pensions, 401k matches, pay more for healthcare etc…yet they made 16bil in profit recently and received 1.5 billion from the stimulus that was suppose to improve broadband access in urban and rural areas yet verizon pocketed the money and is playing broke to their employees.
People will go on and on about ke-ke and them in the hood for getting some foodstamps or medicaid but these corporations are the real welfare queens.
White folk been robbing the banks since Bush…Michelle said No and it’s NO, he will not be running for another term and get destroyed by these racist cowards. Hillary Clinton needs to run, she won’t play Mr. Nice Guy, she will cast out all that evil.
@Kezi and @dats
datsmdubya2u says:
They can cut all they want but we won’t catch up until everyone including Billionaires and Corporations pay their fair share. Google “corporations that paid no tax in 2009 or 2010? and see how many are on the list. High as gas is we still give subsides to companies like exxon, shell and connoco to the tune of 280 billion. Verizon employee are on strike because they want to take away their pensions, 401k matches, pay more for healthcare etc…yet they made 16bil in profit recently and received 1.5 billion from the stimulus that was suppose to improve broadband access in urban and rural areas yet verizon pocketed the money and is playing broke to their employees.
People will go on and on about ke-ke and them in the hood for getting some foodstamps or medicaid but these corporations are the real welfare queens.
Welp…there you have it. Big business runs America…Until there is some corporate responsibility…the economy will continue to tank but sadly the only people suffering are the middle and lower classes.
Can someone direct me to where I can find the interview in which Michelle said President Obama will not seek re-election? I need to see that with my own eyes.
@ Mswonederful
“At least he’ll retire with a LIFETIME pension for 4 years of work. So in all reality our PRESIDENT is #WINNING either way. BUMP them haters OBAMA”
People think they are doing something to Obama if they vote him out.
In reality you will be doing something to yourself.
Mr. Obama will be set for life either way. If the republicans get in
expect to lose:
Public schools: “here’s your coupon!” “Sorry our corporate buddies that run the new private school system that replaced public schools, charge more than your voucher,you’ll have to come up with the rest” No black people you will not be able to exchange your voucher for cash and home school the kids.
Medicare: “here’s your coupon grandma” “oh my $15,000 a year is not enough for an seventy five or eighty year old to buy health insurance?”
Well granny pony up the difference. No you won’t be able to exchange the voucher for cash and use home remedies on yourself.
Foodstamps/Welfare/WIC/Medicaid:We the republicans refuse to acknowledge that more white people use these services than minorities. But even if we did acknowledge that we are willing to throw them under the bus to get blacks and illegals off. So we will cut these programs to the bare minimum and let each individual state decide how to use what little funds they will have left.
Government: “We hate the government, we see government employees as parasites. We will eliminate every government job we can (except for our own), eliminate civil service rules, make sure there is no affirmative action at any level.” The few government jobs left after we get through will be reserved for our cronies, donors and relatives”
Obama will be sitting home with his fat pension, secret service, book and speaking deals. He won’t be affected by any of this. So a vote against him in the next election is really a vote against yourself and your loved ones.
Even if he does not seek re-election his part in American history is cemented.
FIRST non-White President
Killed Osama bin Laden, something Clinton and Bush failed to do.
“The First Lady says she supports husband President Barack Obama‘s decision to run for re-election.
“Yes, he’s running and he’s got my support,” she told Parade magazine.”
datsmdubya2u says:
They can cut all they want but we won’t catch up until everyone including Billionaires and Corporations pay their fair share. Google “corporations that paid no tax in 2009 or 2010? and see how many are on the list. High as gas is we still give subsides to companies like exxon, shell and connoco to the tune of 280 billion. Verizon employee are on strike because they want to take away their pensions, 401k matches, pay more for healthcare etc…yet they made 16bil in profit recently and received 1.5 billion from the stimulus that was suppose to improve broadband access in urban and rural areas yet verizon pocketed the money and is playing broke to their employees.
People will go on and on about ke-ke and them in the hood for getting some foodstamps or medicaid but these corporations are the real welfare queens.
_________________
Now if you ask me I say both the Democrats and Republicans are playing good cop bad cop. They are all rich and don’t REALLY care about the people but that is an entirely different convo #stickingtothescript
@renegade
Big business runs America…Until there is some corporate responsibility…the economy will continue to tank but sadly the only people suffering are the middle and lower classes.
——————-
Yep. The oligarchs have expertly pitted the masses against each other over “wedge issues” like gay marriage, abortion, etc. Also they have pitted working people against each other over union vs non union. Private sector employees against public sector employees. While we are busy fighting over this stupid stuff they are extracting capital and taking it to china and india to do business. that’s their “new middle class”. They already know the average american has no money to buy new products. so now their business profits are all made overseas. but the losses are all counted in the us for tax purposes. They claim they need tax cuts because they are the “job creators” they’ve had those tax cuts for 10 years!!!!!!!!!!!!!!! WHERE ARE THE JOBS?
@Kezi Thank You
@Dats Sadly those jobs are being held until they get another President in office well thats my theory anyway
@kezi
“They are all rich and don’t REALLY care about the people but that is an entirely different convo ”
—————-
They all live in a bubble they really have no idea what going on in the real america. The average one couldn’t pass a basic employment test to get a real job.
@ Daisy
@Dats Sadly those jobs are being held until they get another President in office well thats my theory anyway
————
datsmdubya2u says:
@ Kezi
They can cut all they want but we won’t catch up until everyone including Billionaires and Corporations pay their fair share. Google “corporations that paid no tax in 2009 or 2010? and see how many are on the list. High as gas is we still give subsides to companies like exxon, shell and connoco to the tune of 280 billion. Verizon employee are on strike because they want to take away their pensions, 401k matches, pay more for healthcare etc…yet they made 16bil in profit recently and received 1.5 billion from the stimulus that was suppose to improve broadband access in urban and rural areas yet verizon pocketed the money and is playing broke to their employees.
People will go on and on about ke-ke and them in the hood for getting some foodstamps or medicaid but these corporations are the real welfare queens.
_________________________________________________________________________
That sums it up in a nutshell!!!! Ditto u and Kezi
So I see we on the same page!
I wish these people would wake up. We need some riots and sit-ins here for these blood suckers to understand we mean business…
@kezi
So I see we on the same page!
I wish these people would wake up. We need some riots and sit-ins here for these blood suckers to understand we mean business…
——————–
I’m ready. Like Bill Maher said we need progressives who are as crazy and loud as the tea party.
@Kezi FIGHT THE POWER *fist pumps and grabs t shirt*
Seriously I wonder why we don’t see massive protest in Washington maybe gas is to high for all of us to get there 
awwwww no laker…say what you gotta say. Even if we don’t agree we can still have a civil discourse
@luvmysailor
Even if he does not seek re-election his part in American history is cemented.
FIRST non-White President
Killed Osama bin Laden, something Clinton and Bush failed to do
———————————-
Oh how quickly they forget…………….
Mamacita says:
@LuvMySailor EXACTLY! They keep blming the deficit on Obama and saying that he’s spending so much BUT doesn’t most of the debt com from 2 wars started under Bush and the Bush tax cuts???? They just refuse to put the actual facts out there. They blame everything on Obama. Even the credit downgrade which they had a hand in f*cking up.
_________________________________________________________________________
Well I wish he would stop the two( no make that three flucking) wars before he cuts any of the entitlement programs.
My problem is that my mom lives in Mississippi and I live in Florida and if her SS gets cut there is no way I can help her by moving back home because I can’t find a job paying what I make in Florida in Mississippi and there’s no way she would move to live with me. Obama already flucked with my check for the next two years. What good is having Democrat who wants to use federal employees as whipping boys.
datsmdubya2u says:
Government: “We hate the government, we see government employees as parasites. We will eliminate every government job we can (except for our own), eliminate civil service rules, make sure there is no affirmative action at any level.” The few government jobs left after we get through will be reserved for our cronies, donors and relatives”
Obama will be sitting home with his fat pension, secret service, book and speaking deals. He won’t be affected by any of this. So a vote against him in the next election is really a vote against yourself and your loved ones.
LOVE HER!!!!!!!! YOU HIT IT ON THE NOSE!!!!
@roderickxyz
“What good is having Democrat who wants to use federal employees as whipping boys.”
————————
In the repubi-tard effort to gut our country they have tried to demonize public sector employees and the dems will not stand up for them. but i think the recall election results in Wisconsin will turn the tide. Hang in there we need you.
So if it’s true what Sandra said about B. Obama NOT running in 2012 so it must be TRUE about Michelle Obama running in 2012 and winning! And then going on to serve two terms and then B. Obama running in 2020 and he bookend her Presidencies. His slogan for 2020 ~ A Perfect Vision…
That’s another good rumor that can be spread as well…
@Roderick Well, I live in MS and the cost of living here isn’t as high as it is in FL. I’m federal too and our locality is only 14%.
Obama may have screwed with our checks but at least we have jobs. I won’t complain at all. I can’t complain about raises when people are being kicked out of their homes and living off unemloyment which barely pays the bills.
@Laker (Regarding comment #57)
Follow Your GUT Baby (Nothing Wrong w/ 
)
Don’t believe that SHYT
@Kezi (Comment #47)
CO MF-ing SIGN That SHYT !!!
Well I heard a rumor that Chelly-O might run herself in 2016
@ e love
Don’t believe that SHYT
Follow Your GUT Baby (Nothing Wrong w/ 
—————-
I stay on topic and try not to attack people personally just because I disagree. I like to hear all sides. I’ve been wrong before and will acknowledge differing opinions that make sense.
Well ya’ll call me when the riots & sit-ins start, I’ll be front & center for sure. In the meantime, it’s survivial of the fittest.
However- I do totally agree with Kezi & DatsMD. I said in the prior post that voting against Obama won’t hurt anybody but us as he will STILL be rich…and we’ll STILL be working.
@Mamacita
DAMN! I may need to move to Mississippi! I’m federal but our locality pay is 24.22%!
@masturbatehate says:
So if it’s true what Sandra said about B. Obama NOT running in 2012 so it must be TRUE about Michelle Obama running in 2012 and winning! And then going on to serve two terms and then B. Obama running in 2020 and he bookend her Presidencies. His slogan for 2020 ~ A Perfect Vision…
That’s another good rumor that can be spread as well…
——————–
Dang you beat me to it. :facebrokeemoticon:
@dats
YOU SAID we can still have a civil discourse
Ahhhh who exactly is “WE” because if “WE” is the SR Community then you are Absolutely WRONG
Some people really get Beside themselves in these Obama Posts when ANYBODY Says anything REMOTELY Different from Obama STANS (Yes The President has OBAMA STANS here on SR!!!) 
Hey SASO
Well ya’ll call me when the riots & sit-ins start, I’ll be front & center for sure. In the meantime, it’s survivial of the fittest
——————–
I hear you…i’ve been emailing a bunch of so called “progressive” PACS.
they ain’t ready. They still trying to be civilized. Some of these unions need to rent some buses. I know a lot of people can’t leave their jobs to come protest but some of these unemployed can. Especially the 99ers. The Pee Party did it why can’t the progressives?
ELove says:
@dats
YOU SAID we can still have a civil discourse
Ahhhh who exactly is “WE” because if “WE” is the SR Community then you are Absolutely WRONG Some people really get Beside themselves in these Obama Posts when ANYBODY Says anything REMOTELY Different from Obama STANS (Yes The President has OBAMA STANS here on SR!!!)
_________________________________________________________________________
So far the thread has been civil and informative. So feel free to include your stance on the issues. I am not a Stan for anyone but I do support what Obama is trying to do.
@ ELOVE
You right… i meant “we” as in me and laker…. I know how it is. Im not a Obama stan but I know the alternative is worse.
And THIS is why I wish he would have made any possible power plays sincc it seemed pretty obvious (to me) that it would still be downgraded. This is all a lovely drama with many acts. Intermissions = the moments when they let us feel like we have a role in the play, when we’re really just the cleanup crew. (Rough analogy)
@laterthannever
IMO it is a conspiracy to make people so miserable they will be scared for generations to pick another black person for prez. Even some black people will be so scared as to hesitate before voting for another African American. They will feel the others will again take the country hostage and some might vote for whites from now one just for expediencies sake.
@datsmdubya2u I just read your previous responses and can I just say HELL EFF YEAHHHHH! Always nice to see/read folks that get it, ALL of it.
A torn government at it’s worst. Blame game over and over without progress. It doesn’t matter which party should be blamed. I believe the President , Republicans, Democrats, Tea Party all failed to focus on america first.
@mdubya– I totally agree. It’s all policy tactics to scare Obama supporters into voting against him next term. Sadly, it is working among the uninformed masses to a certain degree. I usually comment more on these Obama posts, but you all have taken the words right out of my mouth.
I too think it’s been nice to read a healthy discussion on the matter.
Btw, I’ll be an Obama stan any day over a Boehner/Bush/Palin stan. LOL
Blame Harry Reid for this debt ceiling debacle. He was the one who didn’t want to raise it during the Lame Duck session last year because he wanted the Republicans to share in the responsibility. Yes we see how that worked out.
Question to Senate Democrats Why the fluck is Harry Reid still the Senate Majority Leader?:crying::cuss:
Mamacita, I am grateful for my job but I help my mom financially and it isn’t easy being single. Sometimes I feel as if I need to get a part-time job.
There is plenty of blame to go around we need solutions NOW!!!!
I am not an Obama fan but the downgrade at this point and time was wrong. S&P has been threatening to downgrade for years … and justifiably should have about four years ago .. pre-Obama. While Obama could;ve handled this situation better (stop listening to Reid and Pelosi) this is not his fault.
I guess Obama wishes he had waited a little longer to pull the Osama bin-Laden trick.
poor obeezy… people expected him to be different than the rest, but don’t understand that you can’t be the president without being a prostitute as well for the bankers and royalty that own this corporation known as the usa.