Posted on 08/08/2011 6:44:50 PM PDT by milwguy
A familiar air of indecision preceded President Obama’s pep talk to the nation.
The first draft of his schedule for Monday contained no plans to comment on the downgrading of the U.S. credit rating by Standard & Poor’s. Then the White House announced that he would speak at 1 p.m. A second update changed that to 1:30. At 1:52, Obama walked into the State Dining Room to read his statement. Judging from the market reaction, he should have stuck with his original instinct.
“No matter what some agency may say, we’ve always been and always will be a AAA country,” Obama said, as if comforting a child who had been teased by the class bully.
When he began his speech (and as cable news channels displayed for viewers), the Dow Jones industrials stood at 11,035. As he talked, the average fell below 11,000 for the first time in nine months, en route to a 635-point drop for the day, the worst since the 2008 crash.
It’s not exactly fair to blame Obama for the rout: Almost certainly, the markets ignored him. And that’s the problem: The most powerful man in the world seems strangely powerless, and irresolute, as larger forces bring down the country and his presidency.
(Excerpt) Read more at washingtonpost.com ...
So Carter gets to move up two spots, instead of just one. Carter’s the only winner in this election.
Cordially,
lol, you are correct.
To me this is ‘tough love’ from the media. Not turning on him.
They know he’s looking at a landslide defeat if he doesn’t change things up quick.
It’s like football fans yelling at the TV and the team they love. Come on, do something!!
They are scared.
Come on....Norah O’Donnell and Chuck Todd beating up Jay Carney???? I don’t believe it....they are Obama butt kissers to the NTH degree.
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