Figures. Obama Downplays Dismal S&P US Credit Outlook

Worst. President. Ever.
Thanks to the failed economic policies of the Obama Administration and democratic lawmakers the S&P downgraded the US credit outlook today.

President Obama downplayed the historic news today that the S&P moved the US credit outlook to negative.
CNBC reported:

The Obama administration moved swiftly Monday to downplay ratings agency Standard & Poor’s downgrade of its U.S. credit outlook, calling the decision a political judgment that should not be taken too seriously.

The timing of S&P’s announcement was unwelcome for the White House, coming just as President Obama tried to regain the initiative on the deficit debate in Washington.

Last week Obama laid out his plan to reduce the budget deficit by $4 trillion over 12 years, trying to give markets confidence that he was serious about tackling U.S. fiscal woes.

House Republican leader Eric Cantor on Monday called the S&P downgrade “a wake-up call” against those seeking to “blindly increase” the U.S. debt limit.

S&P downgraded the outlook for the United States to negative, saying it believes there is a risk U.S. policymakers would not reach agreement on how to address the country’s long-term fiscal pressures by 2013.

#1 April 18, 2011 at 5:26 pm
aprilnovember811 commented:

HE NEEDS TO BE ARRESTED!!!! HE’S NOTHING BUT A BANK ROBBER WHO WAS ELECTED PRESIDENT!!!! HE’S A THIEF AND LIAR!!!!

GO TO HELL SOETORO OR SHOULD I JUST SAY GO HOME TO WHERE YOU CAME FROM!!!! YOU DO HAVE HORNS BASTARD!!!
#2 April 18, 2011 at 5:30 pm
Ella commented:

The dismal S&P outlook would only be a problem under a Republican president. Everything is a-okay under a democratic president…. uh….. pResIDent…… uh…… fraud….. oh never mind. It’s no problem whatsoever. Y’all please go back to watching Dancing with the Stars.
#3 April 18, 2011 at 5:37 pm
dwd commented:

It doesn’t matter because he says so. Just like healthcare prices are going to go down, because he says so. Everything is possible through Obama. All he has to do is decide something is going to happen, and it will.
#4 April 18, 2011 at 5:43 pm
gus commented:

He’s a Complete phuck up. He is MISTER PHUCK-UP.
#5 April 18, 2011 at 5:44 pm
gus commented:

DWD. Now is the time when the seas stop rising!!! We are the people we have been waiting for!!!!!

The guy and his syccophants are retarded. LITERALLY.
#6 April 18, 2011 at 5:47 pm
Mark1957 commented:

Yeah, and Capt. Edward Smith said the hole in the side of the RMS Titanic was no big deal too. Then again, he didn’t steer into the iceberg on purpose either, where Obama seems determined to sink this ship.
#7 April 18, 2011 at 5:49 pm
gman commented:

Chairman Obama’s plan is coming together nicely I see.
#8 April 18, 2011 at 6:11 pm
Betsy Ross commented:

Yeah, well, he can downplay it cuz there is no one to put him under the dreaded Microscope of Scrutiny because he’s DEMOCRAT, that’s reserved for Republicans, don’t-cha-know…
#9 April 18, 2011 at 6:23 pm
Sickofobama commented:

I know this has everything to do with the debt Obama is unloading on us.

And John Boehner wants to work with him.

I am at my wit’s end.
#10 April 18, 2011 at 6:32 pm
tommy mc donnell commented:

this is what his economic policies were created to do, destroy the american economy.
#11 April 18, 2011 at 6:42 pm
chicago commented:

Obama gave MExico a billion in loans for oil drilling. then he gave Brazil 2 billion in loans for oil drilling. now he’s giving Columbia 2.84 billion for oil refinery.

how idiotic is this president?

http://www.cnsnews.com/news/article/feds-plan-284-billion-loan-oil-refinery

(CNSNews.com) – The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery–in Cartagena, Colombia.

The money would go to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company.

“This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets,” the Export-Import Bank said in a statement.

The U.S. government-controlled bank says the $2.84-billion in financing it plans to undertake will be the second largest project it has ever done. The largest was $3 billion in financing for a liquid natural gas project in Papua New Guinea.

The statement released by the bank said that on April 7 the bank’s presidentially-appointed board of directors had “voted to grant preliminary approval for a $2.84 billion direct loan/loan guarantee” for the Colombian refinery project.

Export-Import Bank Spokesman Phil Cogan told CNSNews.com that the bank could not say at this time how much of the $2.84 billion would be directly loaned to the Colombian refinery company and how much would be in loans guaranteed by the bank–although he expected it to be a combination.

“It is conceivable it could be all a direct loan,” said Cogan. “Right now it is set up so that the board could do either a complete direct loan or a combination of direct loan and guarantee. That hasn’t been determined yet.”

Since December, the bank has also approved almost $880 million in other loans and loan guarantees to Reficar’s parent company, Ecopetrol. So, in total, if the new $2.84 billion in loans is finalized, the Columbian national oil company and its wholly owned subsidiaries will have received $3.72 billion in financing backed by a U.S.-government-controlled entity within a span of five months.

“Just last February and December the Bank approved nearly $880 million in export financing to help finance the sale of goods and services from various U.S. exporters to Ecopetrol S.A., Colombia’s national oil company,” Export-Import Bank President Fred P. Hochberg said in the bank’s statement announcing preliminary approval of the refinery loan.

Export-Import Bank Spokesman Cogan stressed in an interview that although Reficar is wholly owned by Ecopetrol it remains a separate entity, and is considered as such for Export-Import Bank financing purposes
#12 April 18, 2011 at 7:01 pm
∅ commented:

Do they have teleprompters on the golf course now?
#13 April 18, 2011 at 7:07 pm
Somewhat Reasonable Voice commented:

S&P says our economy stinks. White House says S&P is political and everything is OK.

I wonder who I am to believe?
#14 April 18, 2011 at 7:09 pm
commonman commented:

US Gov’t plans on loanin Colombia 2.84 Billion for a oil refinery this was reported today.
#15 April 18, 2011 at 7:11 pm
Muffin commented:

Obama does not understand this. He cannot grasp what is happening to him. He does not get nor care what a credit rating is for. Perhaps his teleprompter can inform him.
#16 April 18, 2011 at 7:14 pm
Ginger commented:

So is Soros name on it too? Barrys is there some where mark my words. Parts of those billions will be in a Swiss bank. When is someone going to arrest that traitor! I thought congress had to approve all monies! I call it money laundering!

Hey F U Barry we are broke because of you soros and your communist budies
#17 April 18, 2011 at 7:27 pm
uggy parfait commented:

google, yahoo, all network, cable news ( sometimes Fox) Academia, most of the world, intend all republicans created everything bad in history.

You cannot beat them, only destroy them.
#18 April 18, 2011 at 7:35 pm
jomojava the infidel commented:

S&P, guess what’s coming your way?

You’ve been supplying the evil rich with market intelligence for too long. You just made the O-Team list.
#19 April 18, 2011 at 7:40 pm
tommy mc donnell commented:

this maybe bad news for americans and our economy but its good news to obama and the communists among.
#20 April 18, 2011 at 9:06 pm
wanumba commented:

#7 April 18, 2011 at 5:49 pm
gman commented:
Chairman Obama’s plan is coming together nicely I see.
……………………

That’s what he said all right. He talks just to distract people from acting soon enough to stop it.
#21 April 18, 2011 at 9:14 pm
Robert commented:

This 12 year time frame on Obama’s proposal is a gimmick. It equates to about a $3 Trillion over 10 years, or about half that of the Ryan proposal.
#22 April 18, 2011 at 11:01 pm
chicago commented:

China is not wasting time in supplanting the dollar as the global currency. China’s been making currency swap deals with many countries..these countries will hold the chinese yuan and renminbi as their reserve currency and will soon dump the dollar. China and Russia did a currency deal november of last year, and now, china is accelerating their currency deals with other countries.

if Obama doesn’t stop the dollar printing press all other countries would be coerced by china into dumping the dollar and use the Yuan as their alternative reserve currency.

http://www1.chinadaily.com.cn/china/2011-04/18/content_12347906.htm

BEIJING – The People’s Bank of China (PBOC), the central bank, said Monday that it has signed a 25-billion-yuan ($3.83 billion) currency swap agreement with the Reserve Bank of New Zealand.

The agreement will last for three years and is extendable by mutual consent, according to the statement posted on the PBOC website.

The swap is aimed at promoting bilateral trade, investment and financial cooperation, it said.

Since the onset of the world financial crisis in late 2008, China has signed currency swap agreements with the Republic of Korea (ROK), Hong Kong, Malaysia, Belarus, Indonesia, Argentina, Iceland and Singapore.

Analysts said the move would encourage traders to invest in the local currency as part of China’s efforts to promote cross-border trade settlements in yuan, China’s national currency.
#25 April 19, 2011 at 5:47 am
mg4us commented:

This says it best about the debt and Obama

http://www.americanthinker.com/2011/04/its_all_coming_apart.html

Obama- – -
An Incompetent President – The President is inexperienced and incompetent. He is likely a fraud, as evidenced by his guarded and unknown past. He is incapable of leadership, honesty, or management. Virtually every one of his policy initiatives has been harmful to the economy and country. His intentions are clear; the degree to which he will be able to drive us further down the Road to Serfdom is not.

Obama – - INCOMPETENT, INEPT, INEXPERIENCED — O-buma!
#27 April 19, 2011 at 10:24 am
burt commented:

Standard & Poor’s is racists!
#28 April 19, 2011 at 8:45 pm
steve hoog commented:

His family were re-arranging the deck chairs on the Titanic when it was going down. He’s just completing his family’s tradition. Oh, yeah…Michelle Obama’s FAT ASS!!! That is some junk in the trunk, boy! Don’t go away mad bama, just go away!! However, he DID give us the TEA PARTY, and now we know about ACORN , SEIU, Union thug tactics, how fake and fraudulent the left is, and got all us conservatives together!! So, he ain’t all bad…(yes he is).
#29 April 20, 2011 at 10:17 am
Questionman commented:

Fuuny, Yet there’s no proof that America is still in a recession! And chicago, the only stupid one here is YOU! It was Bush and Clinton and every president before him who has bankrupted the nation with deficit spending. Clinton actually left the government in better shape than he found it. (You can certainly criticize him for Monica) but fiscally speaking, the country was in the best shape its been in in living memory when Bill Clinton left office. Yes taxes were slightly higher. Big deal. The national debt was decreasing slightly and there was this wonderful thing that never happens in government: A Surplus. What happened to it? You got a $350 check courtesy of George Bush in 2001, right before 9/11 happened and all sorts of other very bad very expensive things happened. Do you remember what you did with that $350? Neither do I. Didn’t do you much good, did it?

You say that I’m blaming Bush, then that proves how ignorant you are to history!