White House Statement on Downgrade

White House on Downgrade
12:20 pm August 6, 2011, by Jamie Dupree

The White House has issued a statement on Friday night’s move by Standard and Poors to cut the rating for U.S. Government debt from AAA to AA+.

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THE WHITE HOUSE

Office of the Press Secretary

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FOR IMMEDIATE RELEASE

August 6, 2011

Statement from the Press Secretary

The President believes it is important that our elected leaders come together to strengthen our economy and put our nation on a stronger fiscal footing.

The bipartisan compromise on deficit reduction was an important step in the right direction. Yet, 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.

Over the past weeks and months the President repeatedly called for substantial deficit reduction through both long-term entitlement changes and revenues through tax reform, with additional measures to spark jobs and strengthen our recovery. That is why the President pushed for a grand bargain that would include all of these elements and require compromise and cooperation from all sides.

Over the coming weeks the President will strongly encourage the bipartisan fiscal committee as well as all members of Congress to put our common commitment to a stronger recovery and a sounder long-term fiscal path above our political and ideological differences.

http://blogs.ajc.com/jamie-dupree-washington-insider/2011/08/06/white-house-on-downgrade/

It gets old, old, old.

He's gone from disappointment to disgrace.

fucking republicans. Everyone else did, including S&P.

He gets more spineless by the day.

which demands benefit cuts and no tax hikes for the richest of the rich.

The statement called for revenues and entitlement cuts.

Jeez!

He's one of the shockers

We needed FDR and got Casper Milquetoast!

We needed Mandela and we got Stepin Fetchit.

Big business should should send a big thank you to the republican house.One step closer in the demise of the working middle class. It's incredible that the Republicans cannot be stopped or even reasoned with.

Does Our Pres. have the power to really give us the change we have been longing for? The restoration of equality in government.

Possibly the Democrats are the Tweedledummer? And a vote for Nader harms.....?

Bipartisanship between the Greens and the Democrats. Or is that the wrong sort of bipartisanship for our liter?

taking away deductions that will mostly hurt the middle-class. Yet gutting SS and Medicare and taking away tax deductions middle-class working families rely on will be the centerpiece of of the super catfood commission. You know it. I know it. And the rich and corprat welfare queens will not be made to pay one more red cent in taxes.

the big three to bear all the sacrifice in this theater of collegiality, bi-partisanship, and shared sacrifice. :patriot:

I'm sure that will make the economy grow :crazy:
Yea, you keep on doing what you are doing White House.

then I change the station of quit reading. If he really wants to equate Sherrod Brown and Bernie sanders with the teabaggers, he doesn't deserve my attention, at all.

and eliminate the Bush/Obama tax cuts.

Rep. Clyburn: "American people need GOP to stop their reckless and irresponsible political games that led to this unfortunate downgrade."

More of that and less bi-partisan ring-around-the-rosey and Obama might win back the enthusiasm of many

"Over the past weeks and months the President repeatedly called for substantial deficit reduction through both long-term entitlement changes and revenues through tax reform, with additional measures to spark jobs and strengthen our recovery. That is why the President pushed for a grand bargain that would include all of these elements and require compromise and cooperation from all sides."

This is exactly what S&P's report had stated would have been an appropriate move to avoid downgrade. For several weeks, the president pushed for a 4.3 trillion dollar package that was comprehensive and long term. The president can push an agenda, but cannot dictate one.

It is a statement that does not demean the country by its leader pointing fingers or making excuses. It reassures the rest of the world that its foremost leader understands the bottom line here. It is an honorable response.

a Democrat and one of their best allies along with McCain for creating this mess. They probably won't but still.