Early Show Echoes White House, Dismisses Debt Downgrade As 'Political'
Should anything happen to the Obamas' Portugese water dog Bo, perhaps the First Family could adopt Jeff Glor as a pet parrot. The weekend Early Show weekend co-host proved the perfect White House mimic this morning. Glor dutifully echoed the Obama admin line, dismissing as "political" Standard & Poor's downgrade of the US government's credit rating.
In support of his point, Glor twice mockingly referred to the fact that the country of Liechtenstein now has a better credit rating than the US. And your point is, Jeff?
View video after the jump.
Watch Glor give his best macaw impression.
CBS' Whit Johnson reported from the White House lawn on the Obama admin's reaction to the downgrade.
WHIT JOHNSON: Government officials tell us that the White House fundamentally disagrees with the downgrade and thinks it's a largely political rush to judgment.
Glor then echoed the notion in his discussion with two financial-expert guests.
JEFF GLOR: This seems rather political.
A bit later, Glor, apparently trying to prove his point that the downgrade was political, pointed to the fact that Liechtenstein now has a better credit rating than the US. Glor seemed to find that absurd.
GLOR: Kelly, our credit rating is now below that of Liechtenstein's. And with all due respect to our friends in Liechtenstein, I think that surprises a lot of people.
Glor mocked the downgrade with a parting shot at Liechtenstein: "but Liechtenstein still has its [inaudible]."
Well, let's look at Liechenstein. A business-and-banking-friendly government. Low corporate and personal income tax rates. And, at least in the last year for which data is available, the country apparently ran a budget . . . surplus. Why the heck shouldn't it have a better credit rating than the $14-trillion-in-the-hole US?
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Comments
→ Bomb Keynesia!
Submitted by Cool Arrow on Sat, 08/06/2011 - 4:32pm.
Where is Keynesia?
Can we send all the Keynesians back to Keynesia?
Shouldn't we be bombing Keynesia right about now?
"We are all Keynesians now" ----R. Nixon
Submitted by lrgon on Sat, 08/06/2011 - 5:27pm.
One Keynesian is dead and buried. But before he died he locked us into the Keynesian merry-go-round by releasing the dollar's last tie to GOLD. Inflation has soared due to Richard Nixon's action to embrace keynesianism.
Keynesianism offers politicians unlimited unbacked dollars to buy votes and to wage class warfare. Now after the Boehner/Obama Debt ceiling "compromise" the congress has thrown away its braking system on the printing of mountains of unbacked dollars by creation of the "super congress!
So the country of Keynesia is where it's always been: In college classrooms and in the halls of congress and in the White House. It certainly is in the minds of the GOP leadership.
"Ich bin ein Keynesianer" -
Submitted by stratman on Sat, 08/06/2011 - 6:28pm.
"Ich bin ein Keynesianer" - Barack Kennedy
skip skip skip
Submitted by TerryWest on Sat, 08/06/2011 - 4:32pm.
So we can safely assume we will remain on the same destructive track as the same old record spins the now familiar tune of denial, paranoia and blame.
"Should anything happen to the Obamas' Portugese water dog Bo"
Submitted by Newsbubba on Sat, 08/06/2011 - 4:33pm.
You can bet your sweet a$$ that it will be ANYBODY'S fault but Obama's if it does!
Does this sock puppet even take credit for getting himself dressed in the morning?
This mook is no leader by any stretch of the definition, and I seriously doubt that he could be a follower.
Pitiful.
→ Yes, Terry
Submitted by Cool Arrow on Sat, 08/06/2011 - 4:36pm.
And if you don't like the path we're on, the liberals have a very special trump to play if you should voice your displeasure.
That wouldn't be...
Submitted by Anon150 on Sun, 08/07/2011 - 11:01am.
....raaaaaaacism, would it?
Oh, NOW I understand why the Tea Party is vilified and labeled that way.
Standard & Poors got off easy
Submitted by BigDaddy557 on Sat, 08/06/2011 - 4:36pm.
The good people at Standard & Poors really have nothing to complain about. When Tea Party Republicans demanded spending cuts and a balanced budget the Democrat Congress and their but-smooching friends in the media excoriated them, accusing them of being morons, terrorists, and other labels too vile to mention. S & P apparently takes the same view that borrowing more than we produce and spending ourselves silly presents a problem. However, in downgrading our debt, they are merely labeled as being somewhat "political." TPRs should be so lucky.
Baghdad Jeff
Submitted by MidAmerica on Sat, 08/06/2011 - 4:39pm.
Just like 'ol Baghdad Bob, the Iraqi Information Minister for Saddam Hussein, poor Jeff is trying to take a bad situation and spin it into a fantasy interpretation more to the governments liking.
Libs all look constipated in their pictures...
Submitted by Slyrr on Sat, 08/06/2011 - 4:41pm.
In all the pictures taken of liberal politicians lately, they look like they're trying to squeeze some kind of dry, solid matter out of some bodily orifice. Could it be their lies are giving them all constipation? That they're choking to death on their own lies?
I think they're ashamed of having to look into the cameras these days. They are saying the most ridiculous things to try and protect their 'messiah'. And they have to choke back the bile and bite their lips while doing it, and at the same time thinking in a blind panic, 'Even I'm not buying this. They KNOW I'm a fake. They KNOW I'm a fraud. They KNOW I'm making a total fool of myself....'
Of course the White House
Submitted by jessieH on Sat, 08/06/2011 - 4:44pm.
Of course the White House disagrees. They caused it! The whole world knows they caused it! Those morons couldn't run a lemonaid stand without losing money! I wonder when CBS is going to hire a journalist?
I think this means it's time
Submitted by gopsteve on Sat, 08/06/2011 - 4:44pm.
I think this means it's time for another White House bash and another cookout!
What's he got against Liechenstein?
Submitted by Dave81 on Sat, 08/06/2011 - 5:36pm.
He just mocks Liechenstein because he's racist. =P
Seriously, you made the point I wanted to make at the end of your article. If they're managing their finances better than we are, then they SHOULD have a better credit rating. The left doesn't want to embrace American exceptionalism, but then can't believe that someone is doing something better than we are.
"Wait for us Greece and Italy! We're right behind ya!"
Submitted by lrgon on Sat, 08/06/2011 - 5:38pm.
John Boehner and Mitch McConnel just put America on that fast train to Debtville and insolvency!
Wonder if John B. and Mitch have a direct line to the New World Order?
Boehner and McConnell: "Hello NWO, this is John and Mitch. Good news! Well, we did it! Phew...we put them in perpetual debt despite those nagging Tea Partiers who believed that we'd keep our word! Now it's up to you to offer them a one world federal reserve as their only option to avoid world calamity."
NWO: "Ok, thanks, guys. Hang loose for further instructions."
Another mediapimp heard from.........
Submitted by Herbster on Sat, 08/06/2011 - 5:44pm.
Jeff Glorski is a walking echo chamber - along with his pals in the state run media. I'm waiting to hear the following "News report" from the usual media suspects. "Yesterday, S&P downgraded the country's debt after secret discussions with Rush Limbaugh and Michael Savage. The Tea Party was also represented at the meeting along with Sarah Palin, Michelle Bachmann, Paul Ryan, a group of Christians and three mothers who home school their children. Unnamed sources tell us that the NRA was also in attendance along with editors from National Review, Human Events and three producers from Fox News. Naturally, President Obama had no responsibility for the S&P action since he was at Camp David recuperating from the Hip Hop Barbecue of the night before. He was also being attended to by doctors from Bethesda Naval Hospital checking on a toe he stubbed while dancing barefoot in the East Room to songs sung by 50 Cent. Mr. Cent was also downgraded in a separate action to 25 cents. We repeat, Mr. Obama bears no responsibility for the S&P action. We understand that he will be speaking to the nation in a few days blaming President Bush and Calvin Coolidge for the S&P action. Now, back to your regular propaganda news program."
Here is one respected
Submitted by jdhawk on Sat, 08/06/2011 - 5:46pm.
Here is one respected financial analysts take on the downgrading of our federal credit standing and what it means to us, the "little people."
It is Peter Schiff's Video Blog. Click on the latest edition, 6 August 2011: http://www.europac.net/media/video_blog
After you have viewed the video, tell me if it sounds like it is just "political."
As Christina Romer said, "We are pretty darned f*cked."
Well, Jeff Glor, the
Submitted by celator on Sat, 08/06/2011 - 5:50pm.
Well, Jeff Glor, the downgrade had "politics" associated with it, in as much as liberal politicians tried to mock the basic laws of arithmetic. They failed, didn't they? Tell your White House handler to read a basic math book, about the 5-6th grade level should be about right. Then read it yourself. You'll be amazed at how easy math is.
According to the John
Submitted by ricklail on Sat, 08/06/2011 - 6:18pm.
According to the John Chambers. head of S&P, they were wanting 4 billion in cuts. They said the Ryan budget did that. Barney and his crowd are now attacking S&P. Overnight they have become unreliable, yeah
IT'S OBAMA, STUPID!
Submitted by Barack Must Go on Sat, 08/06/2011 - 6:38pm.
IT'S OBAMA, STUPID!
I'm waiting for the Dems to start claiming that
Submitted by no tingly legs on Sat, 08/06/2011 - 7:23pm.
Standard & Poor's (or it's parent company, McGraw-Hill), is a an obvious racist organization. Perhaps they could follow Tingle's general theory that Big Business is purposely destroying our economy to make Obama look bad.
No More All You Can Eat Fiscal Buffet For Obama?
Submitted by stratman on Sat, 08/06/2011 - 8:06pm.
Moody's has not altered their rating of the US yet. Warren Buffett may still be the largest shareholder. He owned 13% of stock but has been dumping it in fits and stops for the past couple years.
What effect has Buffett had on Moody's lack of response to the Obama government's fiscal failures?
Did the same thing when they didn't like what the CBO had to say
Submitted by krendler on Sat, 08/06/2011 - 9:47pm.
CBO also "political", and likely racist as well.
Blithering idiots. They don't have a leg to stand on when facts and reason are in play, so they resort to personal attacks, even when it comes to institutions like the CBO and S&P. Laughable. Pathetic. And, per usual, the media is in lock-step with their guy. As Chris Matthews explicitly stated, it's their "job to see that Obama is a success."
Plan B
Submitted by forest on Sun, 08/07/2011 - 10:08am.
Minimizing and dismissing the credit rating downgrade appears to be Plan-B for the media because I think they know trying to blame the Tea Party isn't going to work.
Kind of funny that they are simultaneously trying to frame the Tea Party while being dismissive about the problem.