Breaking: Foreign Policy President is also President Downgrade

posted at 5:23 pm on September 14, 2012 by Allahpundit

Actually, he’s been President Downgrade for more than a year now, hasn’t he?

S&P dropped U.S. credit to AA+. Egan-Jones gives us a solid AA-:

Ratings firm Egan-Jones cut its credit rating on the U.S. government to “AA-” from “AA,” citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country’s credit quality…

In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.’s real gross domestic product, but reduces the value of the dollar.

In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said.

Money line (literally) from the E-J report: “From 2006 to present, the US’s debt to GDP rose from 66% to 104% and will probably rise to 110% a year from today under current circumstances; the annual budget deficit is 8%. In comparison, Spain has a debt to GDP of 68.5% and an annual budget deficit of 8.5%.” O’s reaction to last year’s downgrade was to essentially shrug it off as a result of Republican recalcitrance and to blithely insist, contra all fiscal reason, that “We’ve always been, and always will be, a AAA country.” Expect to see that soundbite in a Romney attack ad soon, presumably as part of the critique suggested by James Pethokoukis. Namely, if the Fed’s sufficiently worried about Obamanomics that it needs a third dip in the QE pool, it’s high time for another president. Stick with O and we really might end up with a, er, solid B+.


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sesquipedalian on September 14, 2012 at 7:52 PM

In the last full month in which Republicans controlled the House, Senate, and Presidency, (December 2006), the Employment-population ratio was 63.4%. That was just slightly higher than the average of what it had been for 144 straight months of majority-Republican control (average over those 144 consecutive months: 63.3%). For Obama to get back to the average of what it was for 144 straight months before the Democrats took majority control, he would need to create over 12 million jobs.

http://www.bls.gov/web/empsit/cpseea01.htm HOUSEHOLD DATA HISTORICAL A-1. Employment status of the civilian noninstitutional population 16 years and over, 1977 to date [Numbers in thousands]

Civilian noninstitutional population in August: 243,566,000
63.4% * 243,566,000 = 154,420,844

Actual number employed in August: 142,101,000

Difference: 12,319,844

Obama needs to create over 12.3 Million jobs in order to get back to where the Employment-population ratio was when he and his party took majority control of Washington, D.C. on January 3, 2007.

ITguy on September 14, 2012 at 8:09 PM

also, see where the line is on january 2009? that fall right there is the bush legacy. beautiful illustration, thanks for the link.

sesquipedalian on September 14, 2012 at 7:55 PM

See where the line is on January 2007? That fall right there is the Pelosi/Reid/Obama/Biden/Clinton legacy. They were the ones in the driver’s seat in Washington, D.C. as the party in control of the House and Senate.

ITguy on September 14, 2012 at 8:13 PM

No Marines for our Libyan Ambassador, full security detail for…. Valerie Jarrett?

Grrrrrr

Key West Reader on September 14, 2012 at 6:27 PM

Well, in all honesty, she is de facto running the country :)…obozo is hiding behind her skirts or Exhillary’s pantsuits most of the time, the rst id the time is conspicuously absent…. does anyone know where exactly he has been the past few days (other than vegas :) or where he was the day of the lybia crisis, no intel briefing, no nothing, what the heck was he doing other than playing with his awesome ballz…or so samuel jackson woud have you think anyways :)…

jimver on September 14, 2012 at 8:23 PM

See where the line is on January 2007? That fall right there is the Pelosi/Reid/Obama/Biden/Clinton legacy. They were the ones in the driver’s seat in Washington, D.C. as the party in control of the House and Senate.

ITguy on September 14, 2012 at 8:13 PM

and since 2010, it’s the boehner-cantor-mcconnell economy then?

sesquipedalian on September 14, 2012 at 8:23 PM

‘the rest of the time he is conspicuously absent’…

jimver on September 14, 2012 at 8:24 PM

ITguy on September 14, 2012 at 8:09 PM

were the bush tax cuts are democrat initiative?

was the medicaid prescription benefit boondoggle a democrat project?

did democrats start the iraq war?

why are you ignoring these?

sesquipedalian on September 14, 2012 at 8:26 PM

See where the line is on January 2007? That fall right there is the Pelosi/Reid/Obama/Biden/Clinton legacy. They were the ones in the driver’s seat in Washington, D.C. as the party in control of the House and Senate.

ITguy on September 14, 2012 at 8:13 PM

and since 2010, it’s the boehner-cantor-mcconnell economy then?

sesquipedalian on September 14, 2012 at 8:23 PM

Nooo, is it that long since Obozo went AWOL??? Since 2010 he is preezy just on paper?? …dang…but then again, the re’s always the chair….

jimver on September 14, 2012 at 8:28 PM

was the medicaid prescription benefit boondoggle a democrat project?

did democrats start the iraq war?

sesquipedalian on September 14, 2012 at 8:26 PM

You mean Medicare?

I believe that fat drunken sack of sh!t Ted Kennedy referred to it as a good, solid downpayment.

Did ‘rats authorize the war? Uh, that’s a yes. Only they turned into douchebags such as yourself afterwards saying they only gave it to threaten.

Lanceman on September 14, 2012 at 8:35 PM

I laugh everytime black Jesus complains about inheriting.

That fvck was part and parcel of the very same ‘rat congress that began to run up the debt exponentially. In fact, that bastard campaigned for the job, if I remember correctly.

Only a lying douchebag such as yourself, sesquipedouchebag, could possibly buy that bullsh!t “It was worse than we were told”.

Lanceman on September 14, 2012 at 8:37 PM

ITguy on September 14, 2012 at 8:13 PM

and since 2010, it’s the boehner-cantor-mcconnell economy then?

sesquipedalian on September 14, 2012 at 8:23 PM

You’re a propagandist. Do you not actually believe the TARP, Health Care Reform and Community Recovery Act Programs were all pushed by the Obama Administration? (Using at times unconstitutional legislative tricks (Slaughter Rule)) Do you still not concede the billions of dollars lost to failed green industries like Solyndra? Sub prime housing loans pushed by Frank and Dodd. The failed housing recovery, the price of gas this president predicted and opined for? My God, you have the nads to still try to blame this on Bush and an unwilling Republican Congress?

Again, Syrians are torturing and butchering each other using bucks from Barack. What further proof does any good American need to see what utter hypocrites you Donks are politically?

hawkdriver on September 14, 2012 at 8:38 PM

and since 2010, it’s the boehner-cantor-mcconnell economy then?

sesquipedalian on September 14, 2012 at 8:23 PM

Dang you are stupid, aren’t you? Who controls the Senate? Who has not passed a budget in the past 3 years? Who refuses to bring legislation passed by the House that would improve the economy and strengthen the economy up for debate in the Senate? Why would McConnell be on your list above since he is not the Senate majority leader. Why do you leave Dingy Harry off of your list?

Finally, who dropped you on your head when you were a baby?

AZfederalist on September 14, 2012 at 8:45 PM

is romney still accusing obama of cutting medicare? just asking!

sesquipedalian on September 14, 2012 at 5:31 PM

is obama still claiming to be the smartest person in any room he is in? just asking! (notice how i totally ignore capitalization to make you feel not so stupid?)

Night Owl on September 14, 2012 at 8:56 PM

Did ‘rats authorize the war? Uh, that’s a yes. Only they turned into douchebags such as yourself afterwards saying they only gave it to threaten.

Lanceman on September 14, 2012 at 8:35 PM

I’m not sure the democratics should draw attention to Iraq, since it’s President George W. Bush’s nation-building exercise that actually worked, unlike the C/F in Lybia and Egypt, little Bammie’s sad-sack attempt at imitating GWB.

slickwillie2001 on September 14, 2012 at 9:04 PM

it’s funny how people who gave us the bush recession are now acting shocked at where the country is.

sesquipedalian on September 14, 2012 at 5:59 PM

No one here is shocked that Obama’s campaign promises were lies, or that he turned out to be a total failure. Not shocked at all.

Night Owl on September 14, 2012 at 9:06 PM

gh on September 14, 2012 at 6:03 PM

From your link. This doesn’t sound good:

The MFO has come under attack several times since the outset of the US-supported Islamic revolution there. The US approved and forced Israel to accept the deployment of Egyptian tanks in the Sinai some weeks ago as part of a much touted counterterror offensive of the Egyptian military. Its results were inconclusive but at Israel’s insistence, the tanks were removed a couple weeks ago. Egyptian President Morsi supports the remilitarization of the Sinai. It is hard not to see the strategic implications of this attack on the MFO.

Night Owl on September 14, 2012 at 9:11 PM

Lotta old-timers comin’ back for this special occasion.

Lanceman on September 14, 2012 at 6:20 PM

I noticed that! For some reason, it makes me feel better. I read this blog religiously for three years before I was able to register, and it’s so nice to see the people whose comments I enjoyed so much back here.

Night Owl on September 14, 2012 at 9:22 PM

New ad from American Crossroads will leave a mark:

http://www.youtube.com/watch?v=4antn3JatAg&utm_source=buffer&buffer_share=80704

Naturally Curly on September 14, 2012 at 6:35 PM

Awesome ad! That one, like you said, will leave a mark!

Night Owl on September 14, 2012 at 9:23 PM

This fool is without a doubt the biggest dud ever to ascend to the presidency (or national leadership-anytime, anyplace anywhere) but he is protected by both his minority status and a myopic MSM. In any other time and, for that matter, in any other country he would long ago have been run out of town on a rail-figuratively speaking.

MaiDee on September 14, 2012 at 9:28 PM

/Lurk on (lurking for years)

I don’t comment much, but these last few days has me outraged, both with the news and maybe more with many of those that comment on this site.
“Failure” is much too weak of a word.
Here are a few more appropriate words:
Treason
Treason
Treason
All you damned ABR’s, Paulbots and the like had better get your sh!t together. The world is officially on fire and your “punish the GOP” for four more years whiny baby crap will eventually kill us all, not to mention your children as well. 1979 will look like a walk in the park. Get your heads out of your ideological a…holes and vote this radtical basturd out. Third parties will never start from the top down. Never happened before and wont happen now. Now you have a more important decision. More important than conservative purity, pro-choice, religious freedoms, gold standards or free weed.
Its fast becoming LIFE or DEATH.
Get over yourself, and the rest of the selfish bull.
(sorry, but I will post this on multiple threads)
/Lurk off

OTTO on September 14, 2012 at 9:45 PM

Night Owl on September 14, 2012 at 9:22 PM

Hugs

Chewy the Lab on September 14, 2012 at 9:54 PM

Hugs

Chewy the Lab on September 14, 2012 at 9:54 PM

Thanks!

Night Owl on September 14, 2012 at 10:55 PM

Over at the MSM politburo they are busy adjusting talking points and memos from ‘Bush’s fault’ to ‘Romney’s statements caused this’… So Obama’s got that going for him.

RalphyBoy on September 14, 2012 at 11:34 PM

In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.’s real gross domestic product, but reduces the value of the dollar.

Ya think?

However, the point is to have somebody somewhere make tons of money. The real joke behind all this is that these credit-rating firms are well aware of this and in all likelihood are profiting as well.

Dr. ZhivBlago on September 15, 2012 at 5:04 AM

So would that make Congressman Ryan, Budget Chairman Downgrade?

plewis on September 15, 2012 at 10:06 AM

So would that make Congressman Ryan, Budget Chairman Downgrade?

plewis on September 15, 2012 at 10:06 AM

You leftist twags can’t take responsibility for anything. Kinda like children.

tom daschle concerned on September 15, 2012 at 10:35 AM

ITguy on September 14, 2012 at 8:09 PM

 
were the… was the … did…
 
why are you ignoring these?
 
sesquipedalian on September 14, 2012 at 8:26 PM


Absolutely hilarious.

 
Well played, sesquipedalian.

rogerb on September 15, 2012 at 10:40 AM

He grades himself incomplete because he hasn’t yet finished taking apart this once free nation.

The question never asked by his willing media and the GOP…”what exactely do you mean by the fundamental trqnsformation of America?

We might have save ourselves a lot of grief is we weren’t so afraid of being called racists–which it in itself defines the foul character of the accusor far more than it does the accused.

Don L on September 15, 2012 at 10:47 AM

You leftist twags can’t take responsibility for anything. Kinda like children spooiled children.

tom daschle concerned on September 15, 2012 at 10:35 AM

There, fixed that.

Don L on September 15, 2012 at 10:54 AM

Loser. He should hang his head in shame after the events of the last few days. Instead, he’ll go party with Beyonce. Worst president ever. If Pee Wee Herman, or even Charles Manson had ever been president, Obama would still win as the worst.

scalleywag on September 15, 2012 at 11:19 AM

Clueless.

COgirl on September 15, 2012 at 11:44 AM

The repubics ought to be beating the crap out of odumbo with all this ammunition. The fact that they are not scares the H out of me. Pulling defeat from the jaws of victory. If they don’t win this in a landslide, the repubics are done. Morons.

ultracon on September 15, 2012 at 12:03 PM

I and others have noted that Valerie Jarrett is the de facto President of the United States. Barry does nothing without her approval.

Just today I learned that Valerie Jarrett is on Twitter, and her twitter ID is…

vj44

As in, her initials and the number 44… as in the 44th President of the United States…

Un-freakin-believable!

ITguy on September 15, 2012 at 12:19 PM

Unfortunately, a majority of the dumasses out there haven’t a clue what a bond rating is….. as long as it doesn’t affect welfare.

ultracon on September 15, 2012 at 12:50 PM

See where the line is on January 2007? That fall right there is the Pelosi/Reid/Obama/Biden/Clinton legacy. They were the ones in the driver’s seat in Washington, D.C. as the party in control of the House and Senate.

ITguy on September 14, 2012 at 8:13 PM

and since 2010, it’s the boehner-cantor-mcconnell economy then?

sesquipedalian on September 14, 2012 at 8:23 PM

Give the majority of the credit and/or blame to the party which controlled a majority (2+ out of 3) of the House, Senate, and Presidency.

So, from January 3, 1995 – January 3, 2007, give the majority of the credit and/or blame to the Republicans.

And from January 3, 2007 – present, give the majority of the credit and/or blame to the Democrats.

ITguy on September 15, 2012 at 2:35 PM

were the bush tax cuts are democrat initiative?

was the medicaid prescription benefit boondoggle a democrat project?

did democrats start the iraq war?

why are you ignoring these?

sesquipedalian on September 14, 2012 at 8:26 PM

I was never a fan of the prescription benefit boondoggle. Al Gore promised in his 2000 campaigning, and Bush did a “me too”. I wish Bush had never promised it, but if he felt that it was necessary to promise that in order to win the election, then at least he was a man of his word, and did what he had said in 2000 that he would do.

As to the Bush Tax Cuts, far from ignoring them, I have pointed out how in just 4 years the 2003 Bush Tax Cuts raised revenues an amazing 44% and helped cut the deficit.

Also, be sure to read this comment.

ITguy on September 15, 2012 at 2:45 PM

sustepediatraction is stupi

Slade73 on September 15, 2012 at 8:33 PM

were the bush tax cuts are democrat initiative?

was the medicaid prescription benefit boondoggle a democrat project?

did democrats start the iraq war?

why are you ignoring these?

sesquipedalian on September 14, 2012 at 8:26 PM

they are now, they were extended by Bammy and the Dem majority

the Dems wanted a far larger Medicare entitlement. Bush was a moderate and gave dems less, now he gets slammed.

the dems voted for the war, yes (side question: are you an idiot?) Guess who voted for the Libyan war? No one. That was Murder by Executive Privilege

Slade73 on September 15, 2012 at 8:41 PM

Present, er Bishop, eleventy!!!
What’s the score Presi? Zero?

I still think I could out shoot, ala Bird, this wanna be, in hoops…
If he’d step down after that take down, but he’d dismiss that as ‘unfair’.
Loathe, people. Loathe.

How many days left before we can rid the world of this clown?

mickytx on September 16, 2012 at 4:54 AM

I guess the label now would be President Double Downgrade.

stukinIL4now on September 16, 2012 at 12:28 PM

were the bush tax cuts are democrat initiative?

was the medicaid prescription benefit boondoggle a democrat project?

did democrats start the iraq war?

why are you ignoring these?

sesquipedalian on September 14, 2012 at 8:26 PM

In case you were sleeping or otherwise mentally incapacitated, please re-call that the Democrats DID enthusiastically agree to all of it. That’s still no reason to go all “Elizabeth Warren” on the thread.

DevilsPrinciple on September 16, 2012 at 5:59 PM

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