Former Obama Economic Adviser Christina Romer Chuckles at S&P Downgrade of US Credit Rating … “We’re F*cked”

Doesn’t this speak volumes of the Obama Administration and those that were put in charge of the US economy.

During an interview with Bill Mahr, former Obama economic adviser Christina Romer chuckled at the S&P downgrade of the US credit rating and said,“We’re F*cked”.  Nice, this from an individual who was originally part of Obama’s economic team that was supposed to fix the economy and get Americans jobs. Many of us knew we were “F’d” the minute that Obama became president.

Click on pic to watch the VIDEO

Transcript from NewsBusters:

BILL MAHER, HOST: So, excuse my language, but we used to do a segment on this show called “How F—ked Are We?”

(VIDEO CLIP)

MAHER: I didn’t expect that there. This, just before we went on the air they said our rating got downgraded.

CHRISTINA ROMER, FORMER CHAIR OF THE COUNCIL OF ECONOMIC ADVISERS, OBAMA ADMINISTRATION: So, pretty darned f—ked.

[Laughter and applause]

MAHER: Ooh.

ROMER: I’ve been hanging around Tim Geithner too long.

[Laughter]

MAHER: Why, does he swear like a sailor?

ROMER: Oh, like a seventh grade boy.

Remember when Roemer said that the “Fundamentals of the US Economy Are Sound?” Just curious, had Barack Obama got his initial wish of a clean debt ceiling bill, raising the debt ceiling without any conditions, it would seem that the S&P also would have downgraded the US anyways.

More Obama Hope & Change: S&P Downgrades US Credit Rating for First Time Ever … AAA Rating Now More

President Barack Obama proves once again he is historic.

Not only is S&P expected to downgrade the US credit rating, they have done so. Thanks to Obama’s socialist spending, lack of leadership in the debt ceiling debate and a complete disregard to pay down the United States out of control debt … Standards and Poor’s, S&P, has downgraded the US’s credit rating. Is it really a shock seeing that the deb ceiling deal that once again raised the US debt limit did nothing substantial to cut spending or deal with any long term strategy to real in the out of control federal deficits.

Standard & Poor’s announced Friday night that it has downgraded the United States credit rating for the first time, dealing a huge symbolic blow to the world’s economic superpower in what was a sharply worded critique of the American political system.

Lowering the nation’s rating one-notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bi-partisan agreement reached this week to find $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would have no luck achieving more savings later on.

The decision came after a day of furious back-and-forth between the Obama administration and S&P. Government officials fought back hard, arguing that S&P made a flawed analysis of the potential for political agreement and had mathematical errors in its initial analysis, which was submitted to the Treasury earlier in the day. The analysis overstated the U.S. deficit over 10 years by $2 trillion.

See S&P pdf. HERE. DOWNGRADED!!!

Barack Obama puts the “POOR” in Standard & Poor’s. As reported by Reuters, United States loses AAA credit rating from S&P. Barack Obama has finally got his wish … he has destroyed the US economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about the government’s budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the American government, companies and consumers.

“The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said in a statement.

VIDEO Hat Tip: FOX News via Hot Air Pundit

As the Debt Ceiling Deal is Celebrated … US Treasury Borrowing at 100% of GDP … America Disapproves of the Raising of Debt Ceiling

American families struggle with their budgets and do without to make ends meet … NOT THE OBAMA LEAD US GOVERNMENT.

UNBELIEVABLE. US Borrowing now equals 100% of GDP.  I am sure the credit agencies will embrace this news. How is it that Obama and and other fool hearty politician on the LEFT or the RIGHT celebrates the debt ceiling deal while the United States is borrowing 100% of the GDP. In one day, just one day the US debt went up $239 billion, largest one-day bump in history.  As the PJ Tatler states, we will be downgraded, how on earth can’t we be?

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Obama took his minions out to lunch to congratulate them for all their hard work on the debt ceiling deal, with the looks of the financial state that Obama has taken America, I hope The One made them pay “Dutch” treat.

The actions of those in Washington, DC are just criminal. 2012 cannot come fast enough, I just hope we have an America left.

UPDATE I: Here is a shocker, the American public hate the debt ceiling law. According to a USA TODAY/Gallup Poll taken hours after the Senate passed and President Obama signed the deal, 46% disapprove of the agreement; while only 39% approve. Many believe that this the agreement that was passed to raise the debt ceiling will do more harm to the economy than good. A Rasmussen poll has the polling data even worse … just 22% of likely voters nationwide approve of the agreement while and overwhelming 53% disapprove.

The hard-won, last-minute agreement to raise the debt ceiling and cut the deficit gets low ratings from Americans, who by more than 2-1 predict it will make the nation’s fragile economy worse rather than better.

Priceless, the Burger King Barack Obama Takes Staffers for Burgers After Debt Ceiling Debate

Wow, pens and burgers for those who participated in the debt ceiling debate debacle. White House staffers got to take a lunch with Barack Obama after dealing with long hours for the debt ceiling debate. But wait, were they provided with a healthy meal? Nope, they had burger courtesy of the the Burger King. What would Michelle Obama say?

Congressional leaders will get the pens President Barack Obama used to sign the debt ceiling bill, but White House staffers who logged long hours to secure the deal got lunch with the boss.

Mr. Obama treated a handful of senior White House officials out for burgers at Good Stuff Eatery on Capitol Hill Wednesday afternoon.

“Michelle eats here all the time, but I don’t get out,” Mr. Obama said of his wife, who’s had a burger named after her on the Good Stuff menu.

How ironic, or is it hypocritical? Not only does Obama take his staff out for a non-healthy burger that his wife would most certainly disapprove of … but who does not find it pathetic that after a debate based on over spending and the need to increase the debt ceiling, Obama spends even more $’s for burgers. But it get’s better, one would think that Michelle Obama would be against burgers, at least she is when she tells us how we should eat. Oh the hypocrisy, Michelle actually has a burger named after her, the MICHELLE MELT, Free Range Turkey Burger on the menu at the the restaurant, The Good Stuff. Obama has a burger too, check on the calorie count on this beast.

Wait it gets better, what would Michelle say? Obama even lured an 11 year old boy into the evils of sugar, ice cream and calories by offering the boy a milkshake. Just like all attempts to addict one to something, the first one is always free.

The president was apparently in a good mood, sharing his spread with fellow diners, including 11-year-old Andrew Parker, who said Mr. Obama told him to choose any milkshake he wanted from his table.

Check out Weasel Zipper’s pic of Obama chowing down on a burger, good grief, is he trying to inhale it in one bite?

Remember this Promise from Obama: If Debt Ceiling Limit Deal Passed … It Would Avert a US Economic Crisis

President Barack Obama and his minions pounded the drum that if the debt ceiling crisis was averted with a deal to raise the debt limit, that it would bring stability to the markets and business.

REALLY MR. PRESIDENT?

August 2 came, D-day for the raising of the debt limit where the sky was supposed to fall, the bill was signed into law to raise the debt limit and guess what … stocks fell 256 points!!! What happened to the stability? Obama claimed that the raising of the deb limit to prevent the elderly from not getting their social security checks would sooth the markets and the economy. Barack Obama was once again wrong on the subject matter. Didn’t Obama tie job creation and the economy to the debt ceiling? The Lonely Conservative asks a similar question … “wasn’t the debt deal supposed to save the economy?”It can’t be a coincidence that the markets plummeted on the day that Obama signed the bill into law under the cloak of darkness as no one wanted to be associated with this “sugar coated Satan sandwich”.

The Dow Jones Industrial Average tumbled 265.87 points, or 2.2%, to 11866.62, on Tuesday. The blue-chip index’s eighth consecutive decline marks its longest losing streak since October 2008. It has lost 6.7% during the skid, dating back to July 22.

Obama and his minions also told us that a bipartisan deal would prevent the US credit rating from falling? WRONG AGAIN BARACK. Credit agency Moody’s presently has outlook for the U.S. grade is now negative. Why? Because the debt ceiling deal did nothing to change the spending habits or really address paying down the debt in any serious manner. It’s not just Moody’s who has an issue and a negative view of the US debt, its all of them. Thanks again Barack Obama.

Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings for the U.S. while warning that downgrades were possible if lawmakers fail to enact debt reduction measures and the economy weakens.

The outlook for the U.S. grade is now negative, Moody’s said in a statement yesterday after President Barack Obama signed into law a plan to lift the nation’s borrowing limit and cut spending following months of wrangling between Democratic leaders and Republican lawmakers.

It was said by GOP leaders that the debt deal was the best that they could get since they only controlled the House and Democrats controlled the US Senate and the Presidency. If America is serious about paying down the debt and its future, Obama and the Democrats must be thrown out of office in 2012. It is obvious that Obama’s policies are failures and his agenda is far too LEFT for the United States. It is obvious that Obama was and is the lest qualified individual ever to be President and is the worst ever. The only person in America who is happy today is former “misery index President Jimmy Carter.

The issue is not just the debt increase and out of control spending, its the continued poor jobs creation and no growth in the economy. But wait, Obama has reassured the people that he is back focused on jobs. WHAT A COMFORT.

2012 cannot come fast enough.