Source: Obama to offer reassurance on economy
August 8th, 2011
12:18 PM ET

Source: Obama to offer reassurance on economy

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.

According to the White House official, Obama will offer a reassuring assessment of the economic situation, citing reasons for confidence in the U.S. economy despite the decision last week by Standard & Poor's to downgrade the U.S. credit rating for the first time in history.

In addition, Obama will call again on the special congressional fiscal committee to be set up under the recent debt ceiling deal to take a "balanced" approach to deficit reduction that he has been advocating, the official said.

Obama has called for a comprehensive agreement that would cut spending, reform entitlement programs and increase tax revenue. Republicans oppose any kind of tax increase, and many reject increased tax revenue even if the tax rates remain the same or are lowered.

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Filed under: Barack Obama • Politics
soundoff (84 Responses)
  1. Phantom II

    Zohan,
    My reply was rejected.
    Thanks for the Blackberry info.

    August 8, 2011 at 1:18 pm | Report abuse |
  2. gee

    @Mikey: I once knew a mentally challenged kid named Mikey.. sweet kid. I bust my tail until I can barely walk at the end of the day. I also attend school for two degrees (Construction Tech & Biochemistry). I have worked sun up to sun down in the blistering heat trying to better myself. I have volunteered for habitat for humanity, the salvation army and march of dimes. There are some wealthy that are just as bad as the poor people you claim are leaches. So now that I just made you look mentally challenged what else do you have to say about me? 🙂

    August 8, 2011 at 1:19 pm | Report abuse |
    • mikey

      Anyone who supports Obama is an idiot so you must be an idiot.

      August 8, 2011 at 1:23 pm | Report abuse |
  3. banasy

    Looks like the right-wing thugs have had their way too long in Washington. Too many billions in such obscene wars. It has finally caught up. And its on Obama's clock. Those thugs have got to go.

    August 8, 2011 at 1:36 pm | Report abuse |
    • Lyndsie Graham

      Thank you, banasy. I completely agree. Barack Obama is a total idiot who has compromised all of his moral principles upon assuming the Presidency!

      August 8, 2011 at 1:40 pm | Report abuse |
    • MelissaS

      Really? Cause Obama and the democrats had 2 years and ran the country to the ground. Thank God for the Republicans stepping up to stop the spending!

      August 8, 2011 at 4:56 pm | Report abuse |
  4. raven

    Good post banasy,thank you.

    August 8, 2011 at 1:37 pm | Report abuse |
  5. rick

    More lies?

    Sweet... Just what we need. Instead of action... LIP SERVICE... screw them ALL..

    August 8, 2011 at 1:42 pm | Report abuse |
  6. Phantom II

    @ Mickey:
    You're a quick thinker, but I disagree with you that anybody who does what gee does in a day is an idiot.
    @ Zohan:
    1. I didn't call myself wise.
    2. I agree with you that the answer is in ethics, but we might have to discuss ethics. I see destructive greed on many sides, and I don't think that I should have to share with anyone else MORE THAN I am happy to share. BTW, I share a lot.
    Few do.

    August 8, 2011 at 1:47 pm | Report abuse |
  7. gee

    @Mikey: I'm a centrist/independent who loathes both parties. You appear to belong to one of the 30% voting block morons. I want to be successful and hate how extremists have destroyed the American dream.

    August 8, 2011 at 1:48 pm | Report abuse |
  8. mikey

    @gee: I'm sorry. I will just stop talking now and go back to my Sean Hannity DVD collection.

    August 8, 2011 at 1:49 pm | Report abuse |
  9. Phantom II

    I see many trolls here.

    August 8, 2011 at 1:50 pm | Report abuse |
  10. gee

    For the record I don't support Obama. Lol

    August 8, 2011 at 1:57 pm | Report abuse |
  11. Nini

    1. He assured us that the recovery act would work, it didn’t
    2. He assured us that we have a summer of recovery, never happened
    3. He assured us that that we have shovel ready projects, we didn’t

    Why should we believe him now. He just said he has a plan that he will tell us in the coming weeks. here is an idea stop talking until you have a PLAN Mr. President. Now we know that experience mater and on the job training not such good idea for the president of the United State.

    August 8, 2011 at 2:06 pm | Report abuse |
    • V

      That’s because the American people continue to vote for the candidate who lies the best. They all make promises they never intended to keep. The next one will be no different. We're forced to choose the lesser of two evils every election. That doesn't sound like much of a choice at all. If you go to a car dealership and you don't like any of the vehicles they have to offer, do they force you to buy one anyway? If you don't do what your boss expects of you at work, will you get fired? They get away with it, and will continue to get away with it, because we let them. America has become the land of propagating the rich and the home of feeding off the poor. It's time to take this country back and make it work for the people again.

      August 17, 2011 at 11:22 pm | Report abuse |
  12. banasy

    I didn't post @ 1:36.
    That was not raven after me, either.
    Both were posts by my troll, Dick.
    As in, he doesn't know...
    I agree, Phantom II, many trolls about today.

    August 8, 2011 at 2:43 pm | Report abuse |
  13. Lyndsie Graham

    Good post, banasy, I completely agree. Your troll is a Dick!!!
    How repulsive!!!

    August 8, 2011 at 2:46 pm | Report abuse |
    • Lyndsie Graham

      I see that this Tea Partier called Dick just trolled me too as seen above. These goons have to make a joke out of everything!

      August 8, 2011 at 2:59 pm | Report abuse |
  14. Troll Hunter

    *Click clack*

    August 8, 2011 at 2:47 pm | Report abuse |
  15. banasy

    *Facepalm*™

    August 8, 2011 at 2:58 pm | Report abuse |
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