Showing once again that there are no mature adults in the White House, members of the Obama administration are blaming Standard and Poors for the credit rating drop.
From the Huffington Post: The credit rating agency Standard & Poor's showed "terrible judgment" in lowering the U.S. government's credit rating, Treasury Secretary Timothy Geithner said Sunday.
"They've handled themselves very poorly. And they've shown a stunning lack of knowledge about the basic U.S. fiscal budget math," Geithner said in his first public comments about the credit rating decision.
Interviewed on CNBC, Geither said that U.S. Treasury securities were just as safe now as they were before S&P announced its downgrade. He predicted that China and investors would remain strong purchasers of U.S. government debt.
Republicans have blamed President Barack Obama for the first-ever downgrade of the government's credit rating.
But Geithner said Congress owns the credit rating because the Constitution gives Congress the power to tax and spend.
Late Friday, S&P announced it was lowering its rating for U.S. debt one notch from AAA to AA+.
http://www.huffingtonpost.com/2011/08/07/geithner-sp-showed-terrible-judgment_n_920648.html
Geithner must be on some serious drugs to make this kind of crack pot statements.
When Geithner says that S&P has a stunning lack of knowledge about basic fiscal budget math, I think Geithner has it mixed up. It is the Administration and Congressional leaders who lack any knowledge of any financing because if they did, they would not have come up with an irresponsible debt ceiling bill.
As far as the Congress owning the lowering of the credit rating, well, let's see now: Who was a major negotiator for the Democrats? Why, none other than President Obama.
Tell, them Johnny, what do we have for our losers in the White House? Why it's a stinking and sinking economy!!
And as far as spending, when will the Democrats come up with a spending bill? Obama and the Democrats have refused to come up with a budget since Obama has been in office, even when Obama and the Democrats controlled both the White House and the Congress.
And once again, it also shows that Obama and his bureaucrats have not accepted reality that most of their plans have not worked and refuse to accept responsibility on anything negative, just like this guy:
It's too bad that Timmy Geithner has decided to stay on at the Obama administration. Apparently, Geithner could not find anybody to hire him, so he fell back on his current job: Screwing up the United State's economy.
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