The White House Issues a Statement about the Historic Downgrade of Federal Debt

6 Aug

White House, black politics, barack obama

Your Black Politics received this message from the White House today.  It is President Obama’s first response to recent reports that for the first time in U.S. history, federal government debt has been downgraded from AAA status.

The President believes it is important that our elected leaders come together to strengthen our economy and put our nation on a stronger fiscal footing.

The bipartisan compromise on deficit reduction was an important step in the right direction.  Yet, the path to getting there took too long and was at times too divisive. We must do better to make clear our nation’s will, capacity and commitment to work together to tackle our major fiscal and economic challenges.

Over the past weeks and months the President repeatedly called for substantial deficit reduction through both long-term entitlement changes and revenues through tax reform, with additional measures to spark jobs and strengthen our recovery.  That is why the President pushed for a grand bargain that would include all of these elements and require compromise and cooperation from all sides.
Over the coming weeks the President will strongly encourage the bipartisan fiscal committee as well as all members of Congress to put our common commitment to a stronger recovery and a sounder long-term fiscal path above our political and ideological differences.


8 Responses to “The White House Issues a Statement about the Historic Downgrade of Federal Debt”

  1. Alberta August 6, 2011 at 9:57 pm #

    This is nothing more than Wall Street in colloboration with large Corporations combining to show the President who is in charge; I predicted something retaliatory would take place against the President a while back when he began passing regulations restricting WS from doing some of the things that nearly caused our financial collaspe. This move in spite of a two million dollar error is intended to embarrass President Obama. The President is no doubt as smart if not smarter than most and many cannot stand it, now for sure he need to kick asses and take names! In the meantime, we need to gear up, get motivated and ready to vote.

  2. Anonymous August 7, 2011 at 12:16 pm #

    Perfect assessment I see it the same come on 2012 we will show the jerks who is in charge…and it is no embarassment AA is ok too…we know how we got there and there may be more to come…a white man on my job summed it up when he said “they are willing to destroy America because of that black man in office, they are crazier than I thought” President Obama is smart, handsome and they cannot stand it but we don’t care we will fight until the end, it is a new day and America belongs to everyone including the African American you brought over here against their will, but we are here to stay now and we will not continue to be dogged…….

  3. Etna L. Ross August 7, 2011 at 2:28 pm #

    I am sure that Obama will prevail…how could he not? God is always on the right side!

  4. Paul Stone August 7, 2011 at 5:49 pm #

    I think the president will prevail if he does not cave in or give anything else to the republicans The speaker already said they (republicans) got everything they that wantes in the debt negotiations. The president has got start delivering and standing up against the right wing extremist. Unemployment is 15.9% african americans and 34% for black males. He has a lot of work to do in short period of time to convence the american people that he can deliver. I will stick with him, but the clock is ticking.

  5. Anonymous August 8, 2011 at 1:04 am #

    The fact of the matter is Mr. President has to be much stronger in his resolve of completing his campaign promises. For me, he is showing he doesn’t have the will to say enough is enough and lay the hammer down on these individuals that feel he is undeserving of office and do all that they can to make him out to be incompetent. The time for passiveness has long since past, white America needs to truly understand that there are others in this country that are able to run this country beside them because in my eyes, they have mucked things up from the very beginning.

  6. Anonymous August 8, 2011 at 3:24 am #

    Americans must stop buying the hype. We know the condition of our economy and how it became the way it is – the Bush administrations. The politics need to go, and all branches of government should get serious about solving the real problems at hand.

  7. Roger Madison August 8, 2011 at 6:17 am #

    President Obama continues to voice a conciliatory tone — in te face of the most aggressive attacks any President has endured. By every measure, the opposition has thwarted or reduced the impact of every initiative that President Obma has led.

    If this response is part of some form of “rope-a-dope strategy” I am anxiously waiting for him to come off the ropes and throw the knockout punch. Right now, he is taking most of the punches, and it doesn’t look good for the Prez.

  8. Harold L Carter August 9, 2011 at 3:39 am #

    Roger Madison – I agree with you! President Obama did all he could against the Tea Party Republicans very effective influence to avoid the consequences. Now President Obama and the Democrats need to play hardball politics and as you said “come off the ropes and throw the knockout punch”!

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