Did Obama Lie About Yellen?

That is an improvement. There was an awful lot of talk but then, at the end of the day, the president still said he wouldnt negotiate, Cruz said. We began talking, that was good today. But he continued to maintain that he will not negotiate or compromise on anything. And if that is the position, thats not going to lead to a resolution. Some Senate Republicans have suggested changes to the laws periphery, but Cruz has long been focused on striking at the heart of the laws individual mandate or funding for implementation.
Source: http://www.politico.com/story/2013/10/ted-cruz-confronts-barack-obama-government-shutdown-98197.html

Obama: Shutdown politics ‘isn’t how our democracy works’

The Government Shutdown: The Effects On Travel October 5, 2013 7:15 AM PDT The Government Shutdown: The Effects On Travel Government shutdown could stunt economy’s growth October 4, 2013 3:14 PM PDT Government shutdown could stunt economy’s growth Pentagon to Call Back Civilian Workers October 7, 2013 6:57 AM PDT The U.S. Defense Department plans to call back most of the civilian employees it furloughed last week under the federal government shutdown. Gov’t shutdown enters 7th day October 7, 2013 6:57 AM PDT The partial government shutdown is entering its seventh day. Veterans Affairs employees not receiving pay during shutdown October 4, 2013 9:40 AM PDT Veterans Affairs employees are still working during the government shutdown, but some are not getting paid. Shutdown Hits Low-income Food Plan October 3, 2013 3:30 PM PDT Nine million low-income women and children rely on the federal Women, Infants and Children program _ a food program that’s now jeopardized by the gov’t shutdown.
Source: http://www.latimes.com/nation/politics/politicsnow/la-pn-republican-senators-shutdown-solutions-obama-20131011,0,7305655.story

“I want to see the government get opened and I want to see a debt-ceiling solution. But we’ve got to use this time as well to find some savings and reforms, and we are talking about what savings and reforms we can get people to agree to,” he said. Republicans have been knocked on their heels by polls showing Americans largely blame them for triggering the crisis, a political dynamic that has strengthened Obama’s hand. The president has been unyielding in his insistence that he will not negotiate over the debt ceiling. Obama told Americans that his Republican opponents are manufacturing a crisis that has the potential for damaging the U.S.
Source: http://uk.reuters.com/article/2013/10/12/uk-usa-fiscal-idUKBRE9970RX20131012

Perhaps Mr. Obama was referring to Fed transcripts from December 2007, where Yellen is on record to have said: The possibilities of a credit crunch developing and of the economy slipping into a recession seem all too real. At the time of our last meeting, I held out hope that the financial turmoil would gradually ebb and the economy might escape without serious damage. Subsequent developments have severely shaken that belief. So perhaps Yellen did see a degree of trouble in advance and President Obama is simply enhancing her credibility. It wouldnt be the first non 100% correct statement by a politician.
Source: http://finance.yahoo.com/news/did-obama-lie-yellen-161750636.html

“Because once the debt ceiling is raised, and the shutdown is over, there’s a lot we can accomplish together.” However, he said “there is no good reason anyone should keep suffering through this shutdown.” “I met with some really innovative small business owners on Friday who’ve already lost contracts, lost customers, and put hiring visit the site on hold — because the pain of this Republican shutdown has trickled down to their bottom lines,” Obama said. “It’s hurting the very citizens that our government exists to serve. That’s why a growing number of reasonable Republicans say it should end now.” Obama — who Republicans blame for the shutdown, saying he refuses to negotiate — said a default would drive up interest rates for everyone, something he said would amount to “a Republican default tax.” “It doesn’t have to be this way,” he said. “It’s not supposed to be this way. Manufacturing crises to extract massive concessions isn’t how our democracy works, and we have to stop it. “Politics is a battle of ideas, but you advance those ideas through elections and legislation — not extortion.” Obama said although “it’s easy to get lost in or give up on the political back-and-forth, I want you to remember: This is not normal.” 2013 United Press International, Inc.
Source: http://www.upi.com/Top_News/US/2013/10/12/Obama-Shutdown-politics-isnt-how-our-democracy-works/UPI-13401381572000/


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