Just hours after President Barrack Obama, got on a
national stage and announced to the American people that the state of
our economy was "doing all right", a major private sector credit ratings
office said "no we're not." According to reports, "Standard & Poor’s affirmed its long-term credit rating on the United States at AA+ and said its outlook remains negative. The credit agency made the announcement after Obama's said Friday morning that the private sector is "doing fine" and that the GOP Congress is slowing down the economy. It was immediately pounced on by Mitt Romney and other Republican leaders, resulting in the president backpedaling by the afternoon."
President Obama also went on to say that he believed that Congress needed to act in order to help boost the job market. The President also pushed Republicans asking them for their assistance in helping Congress to work through this difficult economic climate stating, "If Republicans want to be helpful, if they really want to move forward and put people back to work, what they should be thinking about is how do we help state and local governments."
Presidential Republican candidate Mitt Romney responded to the Presidents statement by saying, "He said the private sector is doing fine. Is he really that out of touch? I think he’s defining what it means to be detached and out of touch with the American people. Has there ever been an American president who is so far from reality as to believe in an America where 23 million Americans are out of work.”
The announcement and turn around has Republicans and Democrats on Capitol Hill swarming to address the issue of the economy. Senate Minority Leader Mitch McConnell also feels the President is out of touch, echoing Romney's sentiments and telling reporters, "The president must be on another planet,” Sen. Minority Leader Mitch McConnell, R-Ky., told Fox News. “You saw job figures last Friday, completely disconnected from reality.”
For more information on the economy please go to the following links:
Standard & Poor: http://www.standardandpoors.com/home/en/us
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