Posted on 08/07/2011 6:57:45 PM PDT by Justaham
WASHINGTON – 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+.
The other two major credit rating agencies, Moody's Investor service and Fitch Ratings, have not lowered their AAA ratings, although they have warned of a possible downgrade if more is not done to deal with soaring federal deficits.
(Excerpt) Read more at old.news.yahoo.com ...
These liberals destroy the country(that includes Boehner), and all I see in the media are attacks on the people who are our only hope of fixing this mess. The deception is so total.
And what would the little pansy a** twit be saying about S&P if they had gone in the tank for him like those fricking whores at Moody’s?????? BTW, there is some kind of Indonesian connection between tiny Timmy Tax Cheater and the undocumented alien from Nairobi. Which might explain why Soetero will never fire tiny Timmy.
Geitner, Obama and their staffs should all be named Richard Craniums....
A freaking community organizer and a clown who can’t master Turbo Tax.....and they don’t understand how to run a country...OMGosh.
Meadow Muffin
If 50.1% of the voters understand, Obama will win with about 65% of the votes.
ROFL @ YOU, YOU CLOWN!
The hell are we even paying these asshats for!??
Our entire frickin’ country is just a stupid, bad joke now...
If Republicans had any stones they should demand that Geithner an Bernanke immediately resign and begin impeachment proceedings against Obama.
He doesn’t follow the script to well, he is supposed to say “They acted stupidly” Mayne bin bama will have them over for a beer.
Do people like Geithner expect to be hired by someone after they display such incompetence nationally or do they just believe, he has to lie for political reasons.
Do they want to hire liars though?
Don’t stand too close to this jerk, it’s only a matter of time before a bolt of lightning gets him. Thanks Justaham.
S&P: Geithner showed terrible judgment
Good points, both of you.
I forgot to factor in that Democrats ALWAYS CHEAT AT THE POLLS!
Typical of cowards. Blame everyone else.
Obama and everyone in his administration need to be fired and the sooner the better.
Just keep lying and blaming and hoping the avg American voter doesn't catch on. Yeah, that's a real winning strategy, guys.
That’s rich
They are splitting their attack. Gov’t is blaming S&P. MoveOn, et al are blaming the Tea Party.
Geithner’s denial is deeper than the river in Egypt.
Some people want Turbo Tax Timmy to resign. I disagree. Turbo Tax Timmy highlights the level of incompetence of the Food Stamp president’s appointees. Just think, compared to Eric “the bigot” Holder or Hillary “I’ll write you a nasty letter”, Turbo Tax Timmy is actually a bright spot.
S&P has been analyzing credit worthiness since before Geithner’s FATHER was even born. I continue to be astounded by the JAW DROPPING stupidity of the Democrats! I have to catch my breath sometimes. The President demanded that the debt ceiling be raised. The Republicans caved and helped it pass. Then, S&P dropped the US credit rating. John Effing Kerry voted for it and after S&P cut the US credit rating, he and David Axelrod blamed the Tea Party. Geithner supported passage and then said S&P showed poor judgment. We are probably going to wear the phrase out but honestly - YOU JUST CAN’T MAKE THIS STUFF UP!!!
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