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. Partisan Lemming

    @s kel: Yes you said it! Our glorious Democrats have no blood on their hands or corruption in their ranks!.

    August 8, 2011 at 11:56 pm | Report abuse |
  2. Bull Halsey

    The only assurance we will have is when Obama is out of office.

    August 9, 2011 at 3:28 am | Report abuse |
    • THE TRUTH

      do you see how his picture is strategically aligned with the backdrop.... The truth is staring us right in our face... He is an elitism! look how his picture is taken... that can't be accidental! HE might be a popular president but his polices are in line with the POLITICAL AGENDA... and Congress, the HOUSE and the SENATE are responsible for all of this. If you've notice the TEA PARTy REPUBLICANs were the one's calling the shots... How is it OBAMA's Fault personally if he only signs off on what make it PASS the HOUSE and the SENATE??? PERSONALLY all of them are IN IT TOGETHER!!!! THEY MUST BE REPLACED

      August 13, 2011 at 11:35 pm | Report abuse |
  3. Truth

    Its time for America to avoid electing another mcdonalds manager...........and avoid another 4 years of embarassment spending!!!

    August 9, 2011 at 10:00 am | Report abuse |
  4. nadene

    why doesnt the rich step up and say you can raise your taxes to help all of us out of work and elderly

    August 10, 2011 at 6:01 pm | Report abuse |
    • V

      When the super rich run this country into the ground they’ll all hop in their personal jets and yachts faster than you can blink. They’ll be in Tahiti sipping their martinis while the rest of us are left here to rot.

      August 17, 2011 at 11:42 pm | Report abuse |
  5. claudia

    Republicans, shamubplicans...democrats, shremocrats: All you people that "belong" to one party or the other and think that your way is the only way and that only a president of your precious party will fix this country are just SHEEPLE! Every four to eight years, Americans vote the opposite party in because they think that the next president we have will be better than the last one. It's all a bunch of hooey. We're in a downward spiral that only a cataclysmic event will force the American people to wake up and start playing nice with one another. It's all reaction and no proaction. I'm a lower middle class (economically speaking) person and my life has not changed one iota regardless of which party has control of the Congress or who the president is. Wake UP, sheeple. All your bellyaching doesn't do a thing. Get off your cell phones and drive!

    August 12, 2011 at 7:37 am | Report abuse |
  6. THE TRUTH

    do you see how his picture is strategically aligned with the backdrop.... The truth is staring us right in our face... He is an elitism! look how his picture is taken... that can't be accidental! HE might be a popular president but his polices are in line with the TRUE ELITE POLITICAL AGENDA... and Congress, composed of the HOUSE and the SENATE are responsible for all of this. If you've notice, the TEA PARTY REPUBLICANs were the one's calling the shots... not the President. I find it hard to believe that it is just OBAMA's Fault. Personally if can only PASS or VETO bills that make it to his desk is DRAFTED< VOTED< AND SENT TO HIS DESK BY THE HOUSE and the SENATE??? PERSONALLY all of them are IN IT TOGETHER!!!! THEY ALL MUST BE REPLACED. the blood between BOTH parties are so BAD that there will be NO COMPROMISE especially now that EVERYTHING IS EXPOSED

    August 13, 2011 at 11:41 pm | Report abuse |
  7. TERROR ALERT

    YES , WE CAN...YES , WE CAN...WE WILL WIN IN WAR ON TERROR (30 whities or what are terrorists will never come back alive...thank you lord....aaamen).

    What do you mean tragedy! It was just a birthday present for planet apes president !!! That's all ! Feels great to flip hamburgers and hip hop atop of good news...makes you feel vibrant and energized !!!

    ARIZONA = UTOYA = GOVERNMENT‘S "AFTERLIFE" CASH & $$ FLASH MOB (there was no shooting in Utoya or Arizona, but instead tear gas and on faces of multiculturalism maniacs while calling you a terrorists) !!! stateofterror.blogspot.com/ or stateofterror.wordpress.com/

    OBAMA = STALIN = BUSH or USA = SOVIET UNION
    avsecbostjan.blogspot.com/ or avsecbostjan.wordpress.com/

    Whitie is fighting war on terrorism just to come home and be pronounced as terrorist...turned in Timothy, jobless, homeless ...YESSS, WE CAN...YESSS, WE CAN...GABBY OPENED HER EYES (Obaminator’s psychotic speech in Tucson = failed “Apocalypse Now“)

    TEARS WON'T DO YOU ANY GOOD !!! AS BUSH STATED "THAT'S WHAT THEY ARE PAID FOR"(to die ) !!

    Don't worry O(s)bama, you have just saved USA what is lots of Dollars in your DEBT DEALS(DEAD AND ILL) as those best of America or Navy Seals would also grew older and then you already know how it goes !!!

    August 14, 2011 at 2:45 pm | Report abuse |
  8. V

    A total of $3 million has been granted to researchers at the University of California at Irvine so that they can play video games such as World of Warcraft. The goal of this "video game research" is reportedly to study how "emerging forms of communication, including multiplayer computer games and online virtual worlds such as World of Warcraft and Second Life can help organizations collaborate and compete more effectively in the global marketplace."

    August 17, 2011 at 7:50 pm | Report abuse |
  9. V

    The U.S. Department of Agriculture gave the University of New Hampshire $700,000 this year to study methane gas emissions from dairy cows.

    August 17, 2011 at 7:51 pm | Report abuse |
  10. V

    $615,000 was given to the University of California at Santa Cruz to digitize photos, T-shirts and concert tickets belonging to the Grateful Dead.

    August 17, 2011 at 7:51 pm | Report abuse |
  11. V

    A professor at Stanford University received $239,100 to study how Americans use the Internet to find love. So far one of the key findings of this "research" is that the Internet is a safer and more discreet way to find same-s3x partners.

    August 17, 2011 at 7:52 pm | Report abuse |
  12. V

    The National Science Foundation spent $216,000 to study whether or not politicians "gain or lose support by taking ambiguous positions."

    August 17, 2011 at 7:53 pm | Report abuse |
  13. V

    Approximately $1 million of U.S. taxpayer money was used to create poetry for the Little Rock, New Orleans, Milwaukee and Chicago zoos. The goal of the "poetry" is to help raise awareness on environmental issues.

    August 17, 2011 at 7:55 pm | Report abuse |
  14. V

    The U.S. Department of Veterans Affairs spent $175 million during 2010 to maintain hundreds of buildings that it does not even use. This includes a pink, octagonal monkey house in the city of Dayton, Ohio.

    August 17, 2011 at 7:56 pm | Report abuse |
  15. V

    $1.8 million of U.S. taxpayer dollars went for a "museum of neon signs" in Las Vegas, Nevada.

    August 17, 2011 at 7:59 pm | Report abuse |
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