I was listening to obamas speech today while working and when he said that I dropped everything and thought WTF, did he really just say the private sector is doing fine? Then he said it again. This guy is completely out of touch with reality, it is almost scary.
Just hours after President Obama declared the private sector was "doing fine" -- a comment from which he later backed away -- one of the nation's major credit rating agencies affirmed neither the private nor public sector was flourishing.
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.
Read more: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, negative outlook | Fox News