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. Lyndsie Graham

    I would thank you to stop using my name, as I am a member of the GOP, and I resent you trolls using my name to spread your anti-government propaganda.
    Thank you.

    August 8, 2011 at 3:26 pm | Report abuse |
  2. banasy

    You would know all about that, right, Dick?

    August 8, 2011 at 3:27 pm | Report abuse |
  3. Troll Hunter

    @Troll: At least my dick isn't a troll..

    August 8, 2011 at 4:32 pm | Report abuse |
  4. Jazzzzzzzz

    Ok, Don't know if ya'all can see the picture of Obama , but he's got some sorta freekin lite behind him... looks the moon, right behind his head! he's some sorta *SAINT* or something!

    August 8, 2011 at 6:06 pm | Report abuse |
    • Mmmmm

      Lol! I saw that too. His aurora is warped!

      August 8, 2011 at 6:14 pm | Report abuse |
  5. Lyndsie Graham

    Good grief banasy! You must be a fan of Sarah Palin or Michelle Bachman. Such tea party lingo. This is neither the time or the forum for such profanity.

    August 8, 2011 at 6:09 pm | Report abuse |
  6. raven

    Good point Lyndsie,thank you.

    August 8, 2011 at 6:11 pm | Report abuse |
  7. False Prophet

    @Jazz: I already pointed that out. It's totally planned out. Sometimes he stands in front of the eagle and he looks like he has wings. He's totally our savior. All hail Obozo!

    August 8, 2011 at 7:19 pm | Report abuse |
  8. Mad Hatter

    @Lindsie Graham. We all have had the displeasure of the trolls. Welcome to the club.

    August 8, 2011 at 7:24 pm | Report abuse |
  9. Jazzzzzzzz's Mother

    I could never imagine in a my life time, I would be talking to a *false* Prophet but here it goes! ah...I'm Jazz's mom and just like the Iraq invasion... Omg this guy my daughter keeps speaking of is converting both of us! LOL now I'm quoting him! anyway it's always been a BIG chess game between the leaders of the world my kitties! look up and around at the world you live in!

    August 8, 2011 at 7:26 pm | Report abuse |
  10. Jazzzzzzzz's Mother

    I'm so new at this, the above post was to FALSE PROPHET

    August 8, 2011 at 7:28 pm | Report abuse |
  11. Mad Hatter

    Yes trust someone named Mad Hatter from the Mad Tea Party! Wooo hoooooo...

    August 8, 2011 at 7:37 pm | Report abuse |
  12. Jazzzzzzzz's Mother

    Mad Hatter? Tea Party? ohhh my Daughter warned me about you people BAD HATTER ... Go away! he he it's so much fun even with the, just kidding folks

    August 8, 2011 at 7:40 pm | Report abuse |
  13. banasy

    @"Lyndsie Graham":

    I said that my troll's name is Dick.
    There is no profanity involved, unless of course you have a dirty mind or a troll.
    I am not a member of the Tea Party, though you know that.
    You're just stubborn, just like them, though, aren't you?

    August 8, 2011 at 9:54 pm | Report abuse |
  14. s kel

    round up the tea partyers and most repugs, including the ones on here, and exicute the extream ones for being a threat to this country for trying to destroy it.

    August 8, 2011 at 11:24 pm | Report abuse |
  15. Groupon

    This is a bit off topic but have natural male enhancement drugs available for half price (602)621-3688

    August 8, 2011 at 11:40 pm | Report abuse |
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