WASHINGTON (CBSNewYork/AP) — After the first-ever downgrade of the U.S. government’s credit rating, the White House said on Saturday that President Barack Obama believes it’s clear Washington “must do better” in tackling the deficit.

While Republicans and Democrats traded blame over Friday’s move by Standard & Poor’s to lower its AAA credit rating, a statement from White House press secretary Jay Carney was muted in tone and did not refer directly to the downgrade.

Administration officials privately called S&P’s analysis flawed. But Obama himself refrained from comment as he spent the weekend at Camp David.

The move by the key credit agency reflected disappointment with Tuesday’s pact hiking the U.S. borrowing limit, which called for roughly $2 trillion in deficit cuts over the next decade. It had previously called for cuts approaching $4 trillion.

In a statement Saturday, Carney called the hard-fought deal “an important step in the right direction.” However, he said “the path to getting there took too long and was at times too divisive. We must do better to make clear our nation’s will, capacity and commitment to work together to tackle our major fiscal and economic challenges.”

Standard & Poor’s cited “difficulties in bridging the gulf between political parties” as a major reason for the downgrade to AA+, the next level down from AAA. The rating agency has essentially lost faith in Washington’s ability to work together to address its debt.

The downgrade, hours after markets closed on Friday, is a first for the United States since it was granted an AAA rating in 1917. S&P warned about a downgrade as far back as April. Its decision came just four days after fractious debate over raising the nation’s debt ceiling ended in a compromise that would reduce the country’s debt by more than $2 trillion. S&P said Friday the cuts did not go far enough.

Both political parties used S&P’s report to buffet their policy cases and attack the other side.

House Speaker John Boehner, R-Ohio, said he hoped the downgrade served as a wake-up call to the Democratic Party.

“It is my hope this wake-up call will convince Washington Democrats that they can no longer afford to tinker around the edges of our long-term debt problem,” Boehner said in a statement. “As S&P noted, reforming and preserving our entitlement programs is the key to long-term fiscal sustainability.”

Senate Majority Leader Harry Reid, D-Nev., while not calling out Republicans by name, said S&P’s action showed that Democrats’ preferred policy approach — a mix of raising taxes and budget cuts — was the correct way to move forward.

“The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners,” Reid said.

At least one senator, Republican Mark Kirk of Illinois, called for the president to bring Congress back from its August recess to try and address the issues raised by S&P’s report.

The debt-limit deal called for a nearly $1 trillion down payment on deficit cutting, and instructed a special congressional committee to draw up a blueprint for another $1 trillion-plus by November.

On Saturday, Carney said the president intends for lawmakers “to put our common commitment to a stronger recovery and a sounder long-term fiscal path above our political and ideological differences.”

Obama met with Treasury Secretary Timothy Geithner in the Oval Office late Friday afternoon before leaving for his weekend at Camp David.

S&P’s decision, though, clearly angered the Obama administration.

Officials at the Treasury Department fought the downgrade until virtually the last minute. Administration sources familiar with discussions said the S&P analysis was fundamentally flawed. They spoke on condition of anonymity because they weren’t authorized to discuss the matter publicly.

S&P had sent the administration a draft document in the early afternoon Friday and the administration, after examining the numbers, challenged the analysis.

In a statement, the Treasury Department said, “A judgment flawed by a $2 trillion error speaks for itself.”

Potential opponents of the president in 2012 pounced on S&P’s announcement.

Rep. Michele Bachmann, R-Minn., a tea party favorite, called on Obama to fire Geithner and quickly submit a plan to balance the budget, not just reduce deficits. Former Massachusetts Gov. Mitt Romney said the credit downgrade was the “latest casualty” in Obama’s failed economic leadership.

S&P said in its report that downgrading the U.S.’s credit rating reflected the agency’s belief that the debt deal Congress pulled together was not sufficient “to stabilize the government’s medium-term debt dynamics.” S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years.

A downgrade a notch lower, to AA, will occur if the agency sees smaller reductions in spending than Congress and the administration have agreed to make, higher interest rates or new fiscal pressures during this period.

   The downgrade is a psychological blow to an economy that has struggled to recover from the financial tumult of 2008. It came hours after a rare bit of good news, when the Labor Department announced the country had added 117,000 jobs in July, exceeding analysts’ expectations. Any optimism from that report was quickly outshadowed by S&P’s announcement.

   Whether the downgrade will have a more tangible impact on the economic outlook remains to be seen.

Though widely predicted, S&P’s decision comes at a time when investors already appear spooked by U.S. economic indicators and debt troubles in Europe. The Dow Jones Industrial average fell 699 points this week, the most since the height of the financial crisis in October 2008.

Regulators and the Federal Reserve issued a statement designed to calm investors, saying that the downgrade shouldn’t impact U.S.-guaranteed investments. The statement sought to ensure that banks understood the downgrade would not affect the amount of money that regulators require banks to hold onto against possible losses.

If this week is any indication, S&P’s decision is unlikely to have an impact on how the United States finances its borrowing, through the sale of government-backed bonds, bills and notes.

“Investors have voted and are saying the U.S. is going to pay them,” said Mark Zandi, chief economist of Moody’s Analytics. “U.S. Treasurys are still the gold standard.”

Do you have faith in the administration to help spur job creation? Sound off in our comments section below…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Comments (80)
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  2. whatsup says:

    I can’t stand obama refusing to accept blame for his massive spending of the last three years. No one else had control of the check book but him and the democrats. And all you liberal lemmings need to think back to how Pres. Bush was treated by you and compared to the vile treatment you gave him. this obama is being given a pass.

    1. M.A.D says:


  3. DanTe says:

    Dems’ idea of “doing better”: raise the credit card limit and spend spend spend.

  4. M.A.D says:

    FIRE THEM ALL!!!!!

  5. Cory says:

    It’s Nice To Have Friends

    Wall Street’s captains of industry and top policymakers in Washington are often the same people. A lot of them get rich by playing for both teams.
    The financial crisis has unveiled a new set of public villains—corrupt corporate capitalists who leveraged their connections in government for their own personal profit. During the Clinton and Bush administrations, many of these schemers were worshiped as geniuses, heroes or icons of American progress. But today we know these opportunists for what they are: Deregulatory hacks hellbent on making a profit at any cost. Without further ado, here are the Gang of Three:

    1. Robert Rubin
    Where to start with a man like Robert Rubin? A Goldman Sachs chairman who wormed his way into the Treasury Secretary post under President Bill Clinton, Rubin presided over one of the most radical deregulatory eras in the history of finance. Rubin’s influence within the Democratic Party marked the final stage in the Democrats’ transformation from the concerned citizens who fought Wall Street and won during the 1930s to a coalition of Republican-lite financial elites.
    Rubin’s most stunning deregulatory accomplishment in office was also his greatest act of corruption. Rubin helped repeal Glass-Steagall, the Depression-era law that banned economically essential banks from gambling with taxpayer money in the securities markets. In 1998, Citibank inked a merger with the Travelers Insurance group. The deal was illegal under Glass-Steagall, but with Rubin’s help, the law was repealed in 1999, and the Citi-Travelers merger approved, creating too-big-to-fail behemoth Citigroup.

    That same year, Rubin left the government to work for Citi, where he made $120 million as the company piled up risk after crazy risk. In 2008, the company collapsed spectacularly, necessitating a $45 billion direct government bailout, and hundreds of billions more in other government guarantees. Rubin is now attempting to rebuild his disgraced public image by warning about the dangers of government spending and Social Security. Bob, if you’re worried about the deficit, the problem isn’t old people trying to get by, it’s corrupt bankers running amok.

    2. Alan Greenspan
    The officially apolitical, independent Federal Reserve chairman backed all of Rubin’s favorite deregulatory plans, and helped crush an effort by Brooksley Born to regulate derivatives in 1998, after the hedge fund Long-Term Capital Management went bust. By the time Greenspan left office in 2006, the derivatives market had ballooned into a multi-trillion dollar casino, and Greenspan wanted his cut. He took a job with bond kings PIMCO and then with the hedge fund Paulson & Co.—yeah, that Paulson and Co., the one that colluded with Goldman Sachs to sabotage the company’s own clients with unregulated derivatives.

    Incidentally, this isn’t the first time Greenspan has been a close associate of alleged fraudsters. Back in the 1980s, Greenspan went to bat for politically connected Savings & Loan titan Charles Keating, urging regulators to exempt his bank from a key rule. Keating later went to jail for fraud, after, among other things, putting out a hit on regulator William Black. (“Get Black – kill him dead.”) Nice friends you’ve got, Alan.

    3. Larry Summers
    During the 1990s, Larry Summers was a top Treasury official tasked with overseeing the economic rehabilitation of Russia after the fall of the Soviet Union. This project, was, of course, a complete disaster that resulted in decades of horrific poverty. But that didn’t stop top advisers to the program, notably Harvard economist Andrei Shleifer, from getting massively rich by investing his own money in Russian projects while advising both the Treasury and the Russian government. This is called “fraud,” and a federal judge slapped both Shleifer and Harvard itself with hefty fines for their looting of the Russian economy. But somehow, after defrauding two governments while working for Summers, Shleifer managed to keep his job at Harvard, even after courts ruled against him.

    That’s because after the Clinton administration, Summers became president of Harvard, where he protected Shleifer. This wasn’t the only crazy thing Summers did at Harvard—he also ran the school like a giant hedge fund, which went very well until markets crashed in 2008. By then, of course, Summers had left Harvard for a real hedge fund, D.E. Shaw, where he raked in $5.2 million working part-time. The next year, he joined the the Obama administration as the president’s top economic adviser. Interestingly, the Wall Street reform bill currently circulating through Congress essentially leaves hedge funds untouched.

  6. Bob Fowler says:

    I will gladly assume the Presidency, as long as these few changes are made…ALL corporate welfare ends immediately (we are supposed to be capitalistic, so let’s start letting the fittest survive), ALL politicians will have no benefits after they leave office (from village to Washington DC, no life time benefits), MANDATORY TERM LIMITS since serving the country is not supposed to be a career, WORKFARE replaces welfare (if you work full time, but need a hand, 8 hours of community service per week, if you don’t work full-time, 40 hours per week, or NO benefits), ALL military returns to our country (we no longer police the world for free), BIG OIL gets no tax breaks until they put 3 more refineries into operation (and then it will only be to not tax them on the expense of building the refineries), and most importantly, a new Constitutional Convention is convened, and a new Constitution is written so that the millions of loopholes that the ACLU et al jump through will be closed.

    Come to think of it, if they did all of these things without me being the President, the country would be well along the road to recovery.

  7. nobama says:

    January 20, 2013: the end of an error

    1. Tiredoftheblamegame says:

      You wish.

  8. Aguirre Lloyd says:

    I just paid $23,98 for an iPad2-64GB and my girlfriend loves her Panasonic Lumix GF 1 Camera that we got for $37,59 there arriving tomorrow by UPS. I will never pay such expensive retail prices in stores again. Especially when I also sold a 40 inch LED TV to my boss for $677 which only cost me $72,13 to buy. Here is the website we use to get it all from, CentStart.com

  9. Harry H says:

    He is good a stating the obvious but a dunce when it comes to execution. Worst president ever!!

  10. Garth says:

    Until all the career politicians like Reid, Pelossi, and many others are voted out and put out to pasture, the gridlock and grandstanding and finger pointing will be all you get out of Washington. None of them care enough to make a true difference any more, and they are making this country a laughing stock around the world. And the Tea Party, buy them a private island somewhere and let them live happily ever after away from the rest of the world. Thorns in Americas and the political systems side, and nothing but arrogant self serving morons. They could vote Sarah Palin as their goddess and all leave the rest of teh world alone. Morons tend to flock together……………

  11. Liberals Are Evil says:

    The first thing Washington must do is get rid Obama. He is incompetent and so unAmerican.

  12. DONNA says:


    1. JLM says:

      Geanette — You are as much of a cry baby as this man we (unfortunately) call our President. “NO OTHER PRESIDENT IN AMERICA’S HISTORY”? — Give me a break…….have you been alive since George Washington? How do you know this about the hardships of EVERY president? Obama has brought all of his problems on himself……..he’s into his 3rd year………time to grow up and put his big boy pants on and stop blaming Bush. Don’t blame the Republicans and Tea Party for Obama’s problems. Why haven’t the DEMOCRAT Congress and OBAMA passed a budget for the last 900+ days? If THEY would have passed one, this current crisis would NEVER have taken place. GROW UP. And no, I am not a racist. It’s not Obama’s COLOR that is destroying the private sector of the American economy, IT IS HIS PRO-GOVERNMENT, ANTI-PRIVATE SECTOR POLICIES. At least he won’t be re-elected……that’s all we can pray for.

  13. jaypee says:

    Thank goodness he will only be in there for one term

    1. Liberals are Evil says:

      Amen to that!!

  14. Xy Z says:

    If you think people should pay more in taxes, then why don’t you take some of your mone and give it Bloomberg and democrats. All the democrats that want to raise taxes no one is stopping you from giving more money to the gov. I am not rich at all but I don’t want to give any more of my money to the government. Go give all your money to Couno and Bloomberg, don’t ask others

  15. Geanette Carter-Browder says:

    The disloyalty and resistence to President Obama and his office is unbelievable!! The Republicans and Tea Parttyer’s are so hell bent in discrediting this man that they are willing to risk the health and well being of our country and the American people!! There are no words to describe the disrespect and racism!! This time history will be written correctly and this will be noted as another period of shame and disgrace for this country!!

    No other President in America’s history have ever had to contend with this level of resistance by Congress!!

    1. PRP says:

      I totally agree with you Geanette. Tea party members are out to destroy USA.

      1. ruben says:

        +The tea party republicans have demonstrated their lack of patriotism by their inflexible positions. This foundation of this country is based on people of different ideoligy being able to have enough foresight to put the welfare of the nation before personal beliefs.

      2. ruben says:

        +The tea party republicans have demonstrated their lack of patriotism by their inflexible positions. The foundation of this country is based on people of different ideoligy being able to have enough foresight to put the welfare of the nation before personal beliefs.

  16. DON says:

    Wow, the tea party holds 15 total seats in the house and senate and somehow they are in charge of the country?? what a joke! Obama is president but somehow the dems don’t think he is?? what a freaking joke you people are! is obama being held hostage?

    1. Cory says:

      No!!!! Your Mind Is Though; If You Had Given Yourself A Education You Would Know Obama Had Been Forced To Choose the Best of Of Two Evil’s Due To Those That were Not Playing With A Full Deck When They Choose To Put The GOP Back In Control Of The House; If They Had Educated Themselves They would Of Found Themselves To Be Like You (Blind In One Eye And Can Not See Out Of The Other Eye As Well As Deaf In Both Ears) If You Look Through History When The GOP Had Control The Wealthy And Corporations Were The Only Ones That Benefited Off The Employee’s, Poor And Middleclass!!!!

      1. CHESTER REEDY says:


    2. HooDatIS? says:

      he is being held hostage by these rich ceo and execs and tea party idiots who wanna pay 5 dollar in taxes while us the normal bread and butter people who keep this country pumping pay tons and tons of taxes with no breaks
      the rich get richer while the poor get stomped on

    3. ann says:

      Libs just can’t admit they have destroyed us in 3 years.

  17. Robert Nation says:

    Useless blame game politics.

  18. Bryan says:

    The GOP should be ashamed of themselves. The fact that they are willing to jeopardize the USA’s credit rating and financial status is disgusting…You know these GOP congressmen would never tolerate this with thier own bank accounts and investments, but they will do so with Washington’s financial well-being…Boehner is a fool.

    1. Ed says:

      We should start by cutting the benifits and specail treatment as well as wages for congress and start trimming from the top they dont what its like to go with out.

    2. Gene says:

      Why only GOP? What about liberal Democrat.

      1. Eatgoat says:

        The Democrats have been “in charge” for a long long time, yet Republicans always get blamed when things go south, but if its good the Democrats pat themselves on the back. Our President in incompetant and so are the “career politicians” that no longer care or even “connect” with those of us that actually work for a living to pay the taxes they waste! No one ever ever talk about all of the money that is wasted on welfare recipients that can and should be working and paying taxes! People need to wake up and throw these people out of office, start at the top and go down!! Welfare voters vote in the ones that will give them the bigger checks and since Obama has taken office there are more welfare recipients than EVER before. People need to start checking facts and stop assuming the news stations tell the whole truth or even tell the truth at all sometimes. Check out Herman Cain!!! One of us!!!

    3. frecvp says:

      Bryan are you stoned out of your mind? Your president approved it! said we reached a settlement. good for the country. hold his ass accountable. is he being held hostage??? go back to sleep and wait for your check in the mail.

  19. cygon says:


    1. Cory says:

      If You Keep The GOP In Control Cyron Those So Called Job Creators Your So Quick To Want To Protect Will Have You Working Part Time; No Benefits And At Minamum Wage And If You Get Permantly Injuried Theyre Going To Laugh at You When They Boot You Out The Door And Tell You Your Tresspassing If Your Caught On Their Property And When You Go To The GOP And Tell Them To Protect Your Right’s Theyre Going To Laugh At You Too When They Tell You Only Themselves And Job Creators Have Rights, Then Even A Socialitic Country Will Look Good To You.!!!! Wake Up And Smell The Coffee Your Not Going To Be Able To Afford If you Allow The GOP To Have Anykind of Control!!!!

  20. sierra11 says:

    While I am not rich nor poor, I am also not on welfare. My relationship with the “Lord” is specia one, I do not wish to share with you!

  21. J says:

    For a country with such deep religious roots and for us to have “IN GOD WE TRUST.” we are not trusting him the way we should. Remember Solomon. He trusted in God and his kingdom was littered with riches. We can’t be trusting in god when we legalized marijuana, torture people, promote gay marriage, use people for experiments and so on. My voice will get drowned out, but I care for my country and for my fellow Americans regardless of race, color, sexual orientation and so on. It will take every single American to help America get back on it’s feet. As Napoleon Bonaparte said ” I have seen the enemy, it is me.” Let us stop the bickering, division and hatred towards one another because some or us are rich, poor, black, on food stamps and so on. We all need to change our thinking.

  22. sierra11 says:

    The object of compromise is to Collectively Bargain meaning both are at the table ageeing to one another’s ideas and or suggestions. As I understand it wasn’t it Cap Cut and Balance or no Deal?

  23. ANW says:

    And who remembers Cheney’s “Reagan proved deficits don’t matter”?

  24. sierra11 says:

    Tell us all how you have a Balance anything when you are in Endless Wars where we have pledged to Rebuild what we torn down? Where does the money come from to do so? Now, while we’re doing that how do we feed our own Economy?

  25. Sierra11c says:

    Job creation will need more than what was agreed too re the Deficit Ceiling! Tell me when did the economy recover? When Bush and Chenny took office they blamed Clinton and that we were in a Recession, then Enron, 9/11, Natural Disasters, 2 endless Wars, unemployment in free fall, Bank Bailourts etc. so when did the Economy Heal during what time in the Bush era? Great Depression with Band Aides on it….. I personally am still recovering from Enron. Depression is what we were in when Obama took office not a Recession! It will take alot more than what was allocated and guess what American made is the Best made!

    1. Fred Larsen says:

      Sierra, I feel your pain. Unemployment was under 5% from 2002-2007. Look it up. This President has implemented every liberal Keynesian trickle up theory known to mankind. It has simply failed. This economy will be in full collapse by next summer and you’ll still be blaming other people.

      1. Adam says:

        “This President has implemented every liberal Keynesian trickle up theory known to mankind.” Are you kidding this president tried to end the bush tax cuts which would have been a 4 trillion dollar reduction of the debt. Every other fiscal thing this president has tried to implement to fix our economy has been BLOCKED by filibusters in the senate we are still practicing Bush economics and they are still failing!

      2. Cory says:

        IF tHAT IS TO BE THE CASE THANK God You And The GOP Did Not Become President We Would Be Worse Off Then Any Other Country: Lord We All Be Homeless Except The Most Wealthy And Corporate Executives Also You Might Want To Check Your Homework On The Unemployeement Issue As Well As You Seem To Have Left Out The Fact That When Clinton Left Office We Had A Surplus Which Just Happened To Be Deeply In The Red When Obama Took Office Not To Mention The Other Messes He’s Been Left To Clean Up From Your GOP Friends; Keep The GOP In ANY KIND of OFFICE; And It Will Definately Cost All Of The Poor, Middle Class, Seniors And Disabled Gureenteed Theyre Even Telling You As Much Which Just Prove’s How Deaf And/Or Blind You Possibly Are If Your Not Then Other Wise That Would Possibly Mean Your BS!!!!

  26. ProFromDover says:

    Gee, ya THINK Mr. President?!

  27. Sierra11 says:

    Tell McConnell, Boehner, and Cantor to recant statements of “This will Happen With Any President Moving Forward” what do you people still feel nothing you state isn’t read by the rest of the world? Bunch of Self Serving Idiots! Power Hungry drain of brains idiots.

    1. eddie the geek says:

      McConnell, Boehner and Cantor put forth the ONLY plan that would have averted the credit downgrade – Cut Cap and Balance. Harry Reid killed it immediately. This is all on Reid and Obama.

      1. Cory says:

        You Must Still Be In First Grade, Because If you Do Your History Research You Would Find That Those Ideas Were Tryed Through 4 Different GOP Controled Administrations And Failed Making Us Worst Off When Clinton Left Office We Had A Surplus And It Was Your GOP’s That Put Us In The Red And If You Look At The Facts The Poor, Middle Class As Well As Seniors And The Disabled AQre The “only” One”s Asked To Pay For Your GOP Blunders, Wake Up You Nedd A Eduction Bad Unless Your Wealthy That Is!!!!

  28. Margaret says:

    People need to chill out! We have downgraded in one of three reporting agencies…that is not significant because treasury bills and such don’t even react to such a small downgrade from one part of the reporting groups. What is needed is more spending, not cutting…how can anyone be surprised that the debt is increasing when big business is sitting on its collective wallet, who don’t pay much in taxes in the first place, while failing to expand and hire and create demand for GDP, which would fuel the economy, raise tax revenue through payroll deduction and get this country on the road to recovery once again. The way it is, the Republicans are going to cut us all into the poor house!!!!!

    1. Margaret says:

      One more thing….it would cut the spending on unemployment benefits to those who are still even on unemployment. A great plan that I heard on the Chris Matthews Hardball program (MSNBC) is to give unemployment in the form of vouchers to people who could get jobs at companies who would pay the difference between the unemployment amount and what the job is worth. That would reduce the initial outlay to business until demand was stimulated and by the time the benefit period was over, the employer could continue the entire salary because they could afford it due to increased and stimulated business bottom line profits. It is simple if everyone puts their partisan hats in the cloak room and gets in and tries to figure a plan that would work regardless of party or politics. It is a policy question, and it should be dealt with as such

  29. RichieT says:

    Things you NEVER hear about from Washington.
    The REAL financial status of this country.
    ” usdebtclock.org/ “

    1. williaan says:

      You said a mouth full.

  30. joannie says:

    “President Barack Obama believes it’s clear Washington “must do better”

    Dear Mr. President,
    In case you haven’t notived sir, you were elected President to lead the United States of America, so you live and work in, and thus, ARE a huge part of Washington. The onus is on YOU to “must do better” as a leader, don’t blame Congress for all of your woes.

    1. Cory says:

      Thats Right Its People Like You That He Should Be Blameing, Because Its People Like You That Elected The party Of “NO’ And/Or GOP But Do Not Fret None Because Unless Your Wealthy; Which You Probly Are; But If Your Not; You Well Soon Anough Find Out Just How Much Your Tea Party And/Or GOP Is Looking Out For You When Your Out There With Your Sign “I Will Work For Food And Sleeping Under Cardboard Boxes And That Is If Your Lucky That They Do Not Lock You Up For Vagrancy And Put You In A Cell With Big Buba!!!!

  31. Jury Duty says:

    Obama and Michelle good LWorld Leader. Next time USA and Everyone living in the Earth not to worry about the Jobs no more. We are al in Welfare.

  32. James Hodges says:

    I am a Democrat and I am not voting for Obama again. His cronies are taking the country down the drain. We have lost our AAA rating which prove the Democrat’s financial plan is a sham…

    1. Xcape says:

      You’re definitely not a Democrat. Stop lying.

      1. HUNASUN says:

        That’s right, if James were a democrat he wouldn’t care about the debt or unemployment because the government would be supporting his lazy butt. Social security is NOT an entitlement. It’s been paid for by the people who worked their whole life, but medicaid and free food and a free monthly check for having children out of wedlock is absolutely an entitlement! No incentive to work when you can get everything you need while sitting on the porch!

    2. Margaret says:

      You apparently haven’t been listening! Check out the “Party of No!” and then look at the positive steps taken by our President. The Tea Party gang are out to destroy this country. They are consuming the Republicans as we speak, and they are coming for the entire country next!

    3. Cory says:

      Wow, You Claim Your A Democrat, By What Your Saying Your Either Not One Or You Definnately Do Not Know What The heck Your Talking About, You Better Do Some Homework Backed Up By Alot Of Research Before You Find Yourself Out There Begging For Food Sleeping In A Dumpster Until Your GOP Friends Put You In A Cell With Big Buba And You Wont Even Care About Any Rating Little Alone AAA, For Your Information If It Was Not For Obama You Do Not Even Have A Clue How Bad off We All Would Be Right Now Thanks To Your Tea Party And/Or GOP Friends; You Must Possibly Be One Of Those Fox (GOP) News Supporters And If You listened Anywhere Else You Know That Fox News Is Always Being Investigated Because They Can Not Seem To Support Half Of What They Alledge And/Or Making Accusations About!!!! Possibly Like You!!!!

  33. truth says:

    Please do us all a favor and read what WE THE AMERICANS have to say about you in every news article. We want our problems addressed by you leaving office as soon as possible. Please do yourself a favor and LEAVE before you hurt us and our country anymore….

    1. Sierra11 says:

      Well your report lied so CEASE and ASSIST when you didn’t say a word while Bush was in office and now you want Obama to consume his own and Bushes debts, will not HAPPEN! It’s one thing about it Dems will own there mistakes I haven’t heard my “x” party own anything! A Bit Self Righteous ya think!

    2. Cory says:

      I Can Tell Your A Real Winner , You Possibly Are One Of Those That Possibly Are 53 Cards Short Of A 54 Card Deck : Did You Get Your Education Out Of A Cracker Jack Box ? Or Was The Cracker Jack Education Just To Complicated For You And You Quit Before opening the first box; If Your A American Like You Trying To Indicate You Better Get A Clue Fast Because If You Do Not Research Outside Of Fox (GOP) News Big Buba Is Waiting For You In His Cell And Can Not wait For You To Drop The Soap And Thats were Your GOP Friends Are Going To Be Putting You After They Make You Unemployed, Disabled ,have Lost Everything And Are Homeless Then It Will Be To Late And That Is What Your GOP Party Is Out To Do If Your Not Wealthy And?Or A Corporate CEO If They Become Sucessfull The Poor, Middle Class, Seniors, And The Disabled Will All Be Working With Balls And Chains And Monitoring Devise’s And You Can Take That To The Bank And That Is The Real “Truth”!!!!

  34. tax & spend! always the right answer.

  35. Gee says:

    The Tea Party HAS compromised. The TP wants to end the Income Tax and eliminate the IRS, and balance the budget. They are compromising by settling, for now, for only moving toward a balanced budget.

    If you think your taxes are too low, then YOU can send more money to the FedGov to pay for more drug war, more dumb foreign wars, more corporate welfare, more Patriot Act, etc.

  36. Thomas Franklin says:

    I”m wondering if we should not revisit FDR’S NEW DEAL IDEAS LIKE THE WPA AND CCC , not only to create jobs but to repair and rebuild infrastructure such as roads, bridges, rail transport (both passenger and freight), rural development, conservation of land and water practices, broadband construction, etc, etc. What do ya think about investing in American’s life, liberty, and persuit of happiness?

  37. Charles says:

    The problem is still that the Republican/Tea Party will not compromise. They will not cooperate and definitely will continue to work to hurt the President; instead of doing what is best for our country. Rep. Grimm continues to make comments that demonstrate he and His Party beleives God has given them the only solution to our problem. This will not change until all rating agencies downgrade us sometimes before or after the month of November.

    1. Ellen says:

      Charles your not alone in your estimation of the Tea Party. It was reported that most Americans now blame the Tea Party for this more so then the President, and I’m one of them.

      1. Margaret says:

        Amen, Ellen!

    2. Right Thinking says:

      Charles, you are sadly mistaken. Government needs to make very hard choices and it is being run by either children or invertebrates. The Democrats are completely useless and Republicans are not far behind. They will push the whole country off the cliff that hangs above a sea of red ink.

      They are working to hurt Berry? POTUS and his party need only look in the mirror.

  38. Open Your Eyes says:

    Why is it urgent only now, and not from 2008? Oh, right, he is up for re-election. Getting elected or re-elected are the only things politicians really care about. Oh, and taking money from lobbyists also, but the two really go hand in hand. If anybody really thinks that these louses care one little bit about the people of this country, then you need to start taking medications for your delusions. The politicians have sold this country out. You want jobs, then go to China, Brazil, Korea, India, etc, because that’s where your jobs have gone. Why is it that nobody (unbiased, free media? HA!!! don’t make me laugh) is talking about how American companies don’t employ Americans anymore. They set up manufacturing in other countries and employ slaves to do the work. Oh, and guess why this happened in the first place: RIGHT, THE UNIONS WERE SUCKING THEM DRY. Let’s stop the lies already and start telling the truth. It is special interests that drives the ship, and the politicians are in their pockets. That’s how the unions got their power in the first place. They were enabled by the laws that these corrupt politicians made. The only hope is in GOD through Jesus Christ our LORD.
    Act 4:12 Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.

    1. Broke God-seeker says:

      Can you give me Jesus’s address? Im forwarding my rent bill to him…

      1. Very conservative says:


      2. More Broke Than You Know says:

        Your real problem is not that you are financially bankrupt, but that you are spiritually bankrupt. By asking such a question the way you did, you obviously do not believe in GOD, so you are lost, so mock all you want. But as the scripture says:
        Gal 6:7 Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.

  39. Brad Sheik says:

    You cant have JOBS CREATED in the Business Sector..Y?
    Coz there are no LOANS AVAILABLE to Enterpreneures of any amount..
    CREATE LOANS.. thru private sectors and banks at easy rates and leaner
    requirements…Make availlable amounts of all denominations to new start ups..and so forth.. THUS Jobs shall be created..Do something fast..I cant get a loan because of tighter requirements from lenders..TO make money you need to spend money..and if institutions dont lend money to the needy ones they wont have any money coming in return to them..as simple as that..This aspect needs to move ahead and fast…

  40. Very conservative says:

    Not going to frustrate myself this time around by posting what really needs to be done in addition to creating jobs. But I will say at the tailspin this country has been in for well over 10 years now, would be very surprised if it reaches anywhere close (as we know it right now) to the 1500 years that the Roman Empire lasted.

    1. J says:

      Well said chap. We are heading for total destruction. No faith at all.

      1. williaan says:

        They took God out of everything so now we fall.

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