LEW: Good to be with you, Chris. WALLACE: This week both you and the President seem to be trying to panic the markets about both raising the debt ceiling and the government shutdown saying that they should be more concerned. Here’s the President: PRESIDENT OBAMA: I think this time’s different. I think they should be concerned. When you have a situation in which a faction is willing to default on U.S. Government obligations, then we are in trouble. “Stop. This is really important for people to understand. Never before. Why did I say in 2008, the President is not telling you these things,” Glenn said. “I sat with George W. Bush and I asked him specifically, ‘Mr. President, this is what the American people need to hear.’ And he said, ‘I can’t. First of all, I made a promise. Second of all, the president has a bully pulpit unlike any other bully pulpit. They’re watching everything I say all around the world. I cannot telegraph any kind of trouble because if I say it, it’s worth ten times.’ For the president of the United States to say specifically on CNBC to the markets, ‘You should be worried.’ That’s the president yelling fire. Now, here’s the good news or bad news, depending on how you look at it. Bad news long term. This president has such little credibility that it didn’t panic the markets. The markets stayed flat. Nobody believes the President of the United States.” Glen Beck
Posted on: Mon, 07 Oct 2013 16:35:40 +0000