Live Thread: POTUS to speak to country at 1730 ZULU concerning S&P downgrade

08 AUG 11 | dcbryan1

[DCBryan1]

CNBC just broke in and told the audience that the President has requested airtime and will speak to the nation at 1300hrs EST (12 noon central, 10 AM PST) on the US national debt downgrade.

Developing...

[caww]

He;s tooting his horn as usual..I I I I I set up these committees.

Fox said he’d be making a big mistake if he blames the republicans...

“Most immediate concern is Jobs, he said...and recovery.

Here it comes he wants more money!

[mware]

The DOW does not like it.

Dow 11,039.47 -405.14 -3.54%

Nasdaq 2,417.25 -115.16 -4.55%

S&P 500 1,144.58 -54.80 -4.57%

[MinuteGal]

If Boehner isn't in front of a mike RIGHT NOW waiting for El Dopo to finish.....then we have to get rid of him right away....and we have to notify our reps of our feelings.

Leni

[txmissy]

Getting real close to 11000.

[WashStateGirl]

yes, wordsalad waffles

[Gritty]

Gold spiking north while He speaks.

Now at record highs, UP $56.10.

WOW!!

[Dubya-M-DeesWent2SyriaStupid!]

Dow dropping

[maica]

Say what anyone likes, at least President Bush looked into the tv camera when he was addressing a tv audience. The Zero is in an empty room with teleprompters and a lifted jaw, as if he even has a balcony audience.

How can anyone “believe” in this guy when he won’t even look at his “people.”

[Servant of the Cross]

Isn’t he the one who made the default date up out of thin air?

Ding. Ding. Ding. The Obama administration on Friday reaffirmed August 2nd as the date when the nation's debt will max out ...

[Justaham]

Speech is all talk and promises, no substance at all.

[opentalk]

Tax and spend ,Now

[Hillarys Gate Cult]

Anyone tell him that summer is only rerun season for TV shows, not failed ideas?

[no-to-illegals]

Thought I saw something to that affect. zer0 is saying Republicans agreed to all of this. zer0 didn't mention the democRATS agreeing.

[relee]

DJIA is under 11k, down over 445 points

[edpc]

This is Bizzaro World.....

He's blaming political will when it was the lack of it that gave us a deal that did absolutely nothing.

He's saying the markets disagree with the downgrading when they've all fallen markedly during the past few days.

He's citing Warren Buffett.....a man who was just downgraded himself.

[mware]

OMG,he is blaming Republicans again.

I knew it was coming, but don't believe he is saying it.

[MestaMachine]

Into the abyss!

[sunmars]

dropped like a stone, the Dow under 11000

[KansasGirl]

[... a new sense of urgency ... I intend to present my own recommendations, over the next few weeks? ]

Isn’t that what he budget that was voted down in the Senate 97-0 was?

What about HIS debt commission’s reconmmendations? Why did he completely ignore them?

If they wanted tax reform so bad, why didn’t they do it when they has super majorities?

[KarlInOhio]

“We didn’t need a ratings program to know we need a balanced approach.”

Too bad neither he nor the Senator or House Democrats proposed an actual balanced approach. Instead he just said the millionaires and billionaires need to pay more taxes on business jets, without giving any actual percentage figures on how much taxes should be increased or spending decreased. A speech isn't a proposal the CBO can evaluate.