Sunday, August 07, 2011

Obama's Stance on the Standard and Poor's Downgrade?

I've seen a lot of smirky, quick-to-criticize, johnny-come-latelys suggesting Obama is sitting on the sidelines not saying anything about the downgrade, when he had been warning about the consequences of the debt debacle and a downgrade for weeks.
If more Americans were paying attention as the tea party led the republicans around by the nose, we wouldn't be in this mess.
Here's some of the occasions Obama spoke on the topic.
Update July 27
Update July 14
Update July 7
April 13: Obama outlines deficit reduction in a speech. Read it here. 
The White House also has an extensive section on Obama's speeches and press releases and remarks. Many of the White House press briefings have been dedicated to the topic. Those are live streamed mostly every day.
Watch the press briefing tomorrow or read the transcript after the briefing, then you'll know the White House's stance on the downgrade.
Get an education and read the whole S&P report for yourself, or just jump to the "rationale" section. It's written in plain English. Any idiot can understand.
No one's sure what the downgrade means, but it will likely mean slightly higher interest rates, which could mean higher interest rates on student loans, car loans and the like. 
If you're looking to place blame, look to the tea party.