Obama to make statement on S&P downgrade, Afghan copter crash
August 8th, 2011
11:13 AM ET
10 years ago

Obama to make statement on S&P downgrade, Afghan copter crash

WASHINGTON (CNN) - President Barack Obama will make a statement to reporters Monday about the downgrade of the U.S. credit rating and the loss of U.S. service members, including 22 Navy SEALs, killed in Afghanistan over the weekend, a White House official said.

The comments are scheduled for 1 p.m. ET at the White House.

Filed under: Afghanistan • Economy • President Obama
soundoff (38 Responses)
  1. begog101

    O please, I don't need another rhetoric feeling good talking. What we need is less taking and a real action leadership walking in front!

    August 8, 2011 12:05 pm at 12:05 pm |
  2. Discernment


    . . . did not follow through on former President Clinton's advice which was to use the 14th Amendment of the U.S. Constitution.

    Almost every legitimate economists including many financial experts that advise Wall Street and the rich; recommended that President Obama play the 'Constitution Card' and raise the debt ceiling by $4.5-Trillion. Obama could have used his executive powers to set out a balance approach of $2.2Trillion in real spending cuts and $2.3Trillion in real tax revenues from the rich and corporations. As President, it was Obama's duty to use his executive powers not to allow the U.S. to falter in its debts and to not to allow the credit ratings to downgrade.

    Although President Obama was the only "Adult in the Room", he failed to take President Clinton's advice and use the 14th Amendment and allow the legal chips to fall wherever they may.

    August 8, 2011 12:10 pm at 12:10 pm |
  3. Four and The Door

    Ohio man
    You guys crack me up always bashing Obama... so tell me and the rest of us on here... What have the Tea party done that’s going to benefit you and your family, list the things the Tea party has done to make your life better since taking office????????
    How about starting with the $100 billion they made Obama shave off the 2011 federal budget? Turns out that was absolutely the correct decision. And then there was not accepting a debt ceiling increase without making spending cuts and making sure immediate tax increases were included? Another excellent impact from Tea Party influences.
    We have all benefited.

    August 8, 2011 12:14 pm at 12:14 pm |
  4. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    We need send to prison all the traidors and followers.
    Beside the fact that this is the USA and not Cuba, we can't afford to build enough prisons to hold Obama and all the looney leftists that still support this failure.

    August 8, 2011 12:14 pm at 12:14 pm |
  5. FDA

    Why do any of you think this has anything to do with who is President? The only thing that matters is that we have to spend our way out of a recession. Google the history of recessions and what each President had to do to bring the country out of it! The congress in this country wants the country to fail so they can gain back the white house and the senate. So all of you GOP darlings who voted for the tea party, you can take pride it what is going on. The only thing this President should have done is put his foot down on the congress and not sold us out. Obama is governing the country right down the middle. His voting record since taking office is more republican than Ronny Regan. Turn off fox news and look into history. This country's dept should have nothing to do with the conversation of getting everyone back to work. As long as you have a wing of the government bent on destroying Obama, then you must put up with the country failing.

    August 8, 2011 12:16 pm at 12:16 pm |
  6. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    did not follow through on former President Clinton's advice which was to use the 14th Amendment of the U.S. Constitution.
    Yes, right... Because a huge debt crisis just isn't enough, we need to add a constitutional crisis to top it all of. Total leftist lunatic fringe thing here. Had this occurred we would have been downgraded to B.

    August 8, 2011 12:18 pm at 12:18 pm |
  7. T'sah from Virginia

    [...Sorry, not me. Pulled EVERYTHING out of the markets the week before it tanked..."]

    Just like every other RICH tax break-non-tax BIG & SUBSIDIZED corporations who are part of the plan to destroy the President of the United States – It was going smoothly – and I will repeat this over and over again – until January, 2011 when a certain party took control of the HOUSE. This is what the RIGHT would do – and NOT care – in an effort to make President Obama a "one-term" President.

    Who has STOCK in S&P????????????????????????????? Maybe someone should do some research in that – a Democratic "BreitFART" or "O'TEETH" – in order to discover why "all of a sudden", S&P is on a BINGE!!!!!????? Think About It!!

    August 8, 2011 12:19 pm at 12:19 pm |
  8. Jennylee Larkin

    Ahh, the tea party. The party that was "astro-turf (Nancy Pelosi).

    The party that was insignificant – the party that was first IGNORED by the MSM – then was RIDICULED (and still is) by the MSM – the was ATTACKED by the MSM (and still is). The party with only a minority of people that agree with them.

    Now, THIS is the party that the Dems. want to blame for THEIR failures? LOL.

    August 8, 2011 12:23 pm at 12:23 pm |
  9. No more Obama

    Obama created much of this mess. He had his super majority in the Congress and passed everything he wanted for two years. That legislation has lead to the double-dip recession and credit rating drop.

    Now we can look forward to the democrats blaming everyone else. They could have been heroes, but their ideology took precedent over the needs of the country. Obama, Pelosi, Boxer, Reid, Rangel, Howard, Barney, Frankin have shown their incompetence and need to be voted out.

    Democrats had their day and totally messed up.

    August 8, 2011 12:26 pm at 12:26 pm |
  10. SecedingfromTexas

    @Four/Door, etc:
    Why do you insist on ignoring the S&P statement "...majority of Republicans in Congress continue to refuse ANY measure
    that would raise revenues"? You either accept everything they said, or you deny everything they said. Picking and
    choosing what language best fits your weak arguments makes you leaky buckets. None of your comments hold
    water. Your kings Norquist, Kochs, Murdochs are playing you for fools, and you think the Tea Party is your
    salvation? You lose.

    August 8, 2011 12:36 pm at 12:36 pm |
  11. Ohio man

    @ Four and The Door
    Please explain to all of us how that helped you and us out by not raising taxes on the "Wealthy”... You keep talking about not raising taxes as if he was planning on raising every1's taxes... see that’s the problem you have in reading... Not 1 time did he say he was raising every1's taxes on for the rich and corp. how about you start paying attention to what’s being said instead of coming up with your own thoughts about what you think you heard... we have been going down hill every since the 2010 election .. My 401K was growing once Obama took office we had steady job growth . Now since 2010 in which you love to talk about so much...but every since 2010 things have been going in the toilet... You can not just have cuts cuts cuts and expect everything to work its self out. You need to wake up

    August 8, 2011 12:38 pm at 12:38 pm |
  12. Fair is Fair

    "This is what the RIGHT would do – and NOT care – in an effort to make President Obama a "one-term" President."
    Hey T'sah – how's that coffee party thing working out for you?

    August 8, 2011 12:41 pm at 12:41 pm |
  13. diridi

    Be courageous, we are behind you. Take all the necessary steps believe God, . One thing, you did not create this mess. It is GOP Republican Thugs, and Tea Party Thugs created. World knows this truth. Stand up. Take all bold steps to save this nation. We also pray for you, Obama. God bless this nation, and you.....I am writing with all my tears here. You did not do this mess.....we know. Stand up for your stands.

    August 8, 2011 12:43 pm at 12:43 pm |
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