Even After S&P Downgrade Obama Believes Debt Levels Won’t Hurt US in Short Term

In August 2011 Standard & Poor’s downgraded the U.S. credit rating for the first time due to the runaway national debt and record Obama deficits. It was an unprecedented move.

Despite this move by the credit rating agency Barack Obama told David Letterman this week that the $16 trillion national debt won’t hurt us in the short term.
“We don’t have to worry about it in the short term.”

It’s as if the downgrade never happened.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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