Geithner: S&P showed terrible judgment

Associated Press ^ | 8-8-11 | MARTIN CRUTSINGER

[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.

[hattend]

Nobody and I mean NOBODY is this administration acknowledges that the Obama/Reid/Pelosi spending cabal had something to do with this.

Hey Timmy: Name one more thing you inherited from the Bush Administration: A Triple AAA rating!

Asshat.

[PGalt]

Hey, Socialists.

http://www.youtube.com/watch?v=Xj2h0LSTY3U

FU

DEFUND socialist collectives, foreign and domestic. NOW.

[hotshu]

I think he has “Weiner” envy.

[jivin gene]

Hey, timmy. We, the American prople showed very poor judgement. Come 2012, we will redeem ourselves, and clean out the Aegean stables.

[GOP Poet]

bookmark

[cranked]

"Terrible judgement"? LMAO!! Terrible judgement was appointing a tax cheat to head the IRS. Terrible judgement was appointing a tax cheat AND one of the main figures in getting us into this mess in the first place as head of the IRS and council to the AnointedIdiot. Terrible judgement was giving any credence to the socialistic Keynesian economic theory. Terrible judgement was in thinking that Einstein was wrong when he defined insanity. Terrible judgement was an idiot-POTUS filling virtually his whole administration with elitist "we know better than you" academics, starting with Romer and Summers. Terrible judgement is the order of the day with this idiot-ridden administration continuing to think that we have a revenue problem and not a spending problem. Terrible judgement was the day the majority in this country elected a sorry SOB from out of nowhere to POTUS based on a BS 'hope and change' and 'change we can believe' bag of lies. =.=