Obama: “You Mean The Economy Isn’t Like Batteries, And AA Is Bigger?”

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by Smitty

Hey, if BHO gets the credit for bin Laden, he gets the blame for the downgrade. Particulary ironic in light of the recent 14th Amendment whining about the validity of U.S. debt. Not the same thing, sure, but a finely related twist.
If there is any good news here, it is that the attribution is squarely on BHO. It will be spun as unimportant, I suppose.

UPDATE (RSM): I was at an event with Michelle Bachmann in West Des Moines when the downgrade was announced. Bachmann made a statement calling for a Treasury Secretary Tim Geithner to resign. I called Eric Dondero of Libertarian Republican and gave him the report. I’m now trying to upload video, which is difficult with the crappy Wifi at this hotel.

28 comments

  1. CNN’s 360 is fairly unanimous in blaming the lack of revenue in the debt deal as being primarily responsible. Oddly enough they seem to be of the opinion that the current tax rates don’t expire at the end of 2012.

  3. Harry is blaming it the GOP – they wouldn’t let us have revenues.  Timmy TT is claining a $2T error by S&P.  Maybe, but S&P clearly said their downgrade was based upon mid-term stability, ie out to 5 yrs.  Most of that $2T would have been after 5 yr.  Worse, they blamed the squabbling between the parties and see no hope of compromise.

    Better – they were disappointed that their was no entitlement reform, nor hope for any near term.  That’s gotta be a major breach at Nanzi’s waterline.

  4. In the 1950’s it was “Who Lost China?”

    In the 2010’s it’s “Who Lost The AAA Rating?”

  6. I’m going to hit your tip jar and request that it go towards a wireless card.  You practically operate as my home page so I need you to have top-notch equipment–it is especially disappointing that I’m missing out on a Michelle Bachmann video because of equipment issues.  I love her.

  8. Oops! bad link.

    http://www.frumforum.com/if-the-conservatives-were-right-about-the-economy

    My conservative friends argue that the policies of Barack Obama are
    responsible for the horrifying length and depth of the economic crisis.
    Question: Which policies?

    There’s a strong case for condemning Barack Obama for the things he
    might have done, but did not do. He might have cut payroll taxes more
    and faster. He might have pushed for more expansionary Federal Reserve
    governors. He might have designed a better stimulus. All true. But the
    things he did do?

  9. Well, Geithner has been a disaster, but he is about the last guy in the Obama Regime who has even a fleeting notion of the structure of international finance.  All that’s left is a bunch of lifetime government officials and academics, all of the “progressive” (nice modern word for socialist) mindset.

    No need to blame Geithner for this downgrade, and Pelosi and Reid bear at least as much responsibility as Obama, although he gave them the rope to hang America.

  10. Frum is an idiot, as is well known.  Start with the burdens of ObamaCare, his energy policies, EPA rulings outside legislative authority, FCC rulings outside authority, NLRB rulings outside authority, environmental policy, dithering on trade policies, wasting the 2nd half of TARP money and all the stimulus,  and a generally anti-business attitude, regulatory approach, and rhetoric.

    For starters.

  13. I’m willing to entertain the notion that Geithner knows better than to do the stupid sh!t this administration calls economic policy but has been over ruled. And it’s possible that he has patiently explained to the other Bolsheviks that it’s not OK to go two years without passing a budget. But by not going public or resigning he has no credibility or deniability. Not passing a budget for 2011 was a purely political ploy in an effort to spare the Democrats from  having to justify their spending going in to Nov 2010.
      If it weren’t for the Republican congress the debt ceiling would have been raised with no cuts faux or otherwise. They would have allowed the top tax rates to expire which raises $700 Billion over ten years. But even Obama,Pelosi and Reid wouldn’t have tried to raise $4 Trillion in taxes. In their arrogance they would never have believed that we would be downgraded. The other dopes might be stupid enough to not understand that they couldn’t continue on the course they’ve chosen but if Geithner is even remotely qualified for his job he knows better, if he had even a speck of honor he’d resign at the very least.

  14. The Boogie Southern Compound is in the most sporadic-coverage state east of the Mississippi.  It’s exactly why I bought a MiFi card.  Besides Stacy ain’t gonna be filing reports from the boonies.  He’ll be where there’s coverage.

  15. Yeah, the “error” was that S&P didn’t count the unspecified cuts in the last deal, especially the ones that are supposedly guaranteed to kick in over the next six months.

  16. On the other hand, just about every hotel and motel in the state has free wi-fi, which you can’t say about the Washington DC area. 🙁

  17. You’re slacking, troll. Frum was already soundly thrashed for his idiotic column yesterday in LIVE AT FIVE.

  18. Wombat, what’s really good is that the places that charge the most tend to be the most expensive hotels. Every Motel 6, meanwhile, advertises free wi-fi right on the sign.

  20. You are right, i haven’t been keeping up…with all the wingnuttery.

    So little time, so much loonacy around.

  22. Agreed, Pelosi, Reid, plus Obama, bear responsibility for this fiasco. 

    But Geithner has been the willing water carrier for the Obama Administration on this topic.  Maybe he’s just a sacrificial victim, but he’s also a great target.  Obama’s supply of volunteers willing to take a bullet for him is not endless.

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