Something's Up!

The White House just announced that all public events have been cancelled today, including a much-publicized appearance by President Barack Obama at a company in Springfield, VA to highlight new fuel efficiency standards.

Obama has faced criticism over his slow response to the Standard and Poor's downgrade as well as the stock market plunge.

As the Fed meets today, there is some speculation that Obama is preparing an announcement on the economy — perhaps that he will call Congress back into session from its August recess to pass job-creation legislation.

Originally posted by OnlyLove
Report: Obama To View Return Of Remains Of Americans Killed In Afghanistan Today

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guess thats why.

need to pay his respects to seal team 6

While congressional offices were busy studying the report, an official from the rating firm Standard & Poor's quietly called to ask for details of the underlying projections.

Four days later, based in part on that discussion, the rating firm announced a decision to downgrade America's debt—an unprecedented event in U.S. history—a move that is as controversial as it is potentially damaging to financial markets.

The information S&P gathered that day led it to overestimate future deficits by $2 trillion, a fact the Obama administration has called a reckless mistake. That phone call wasn't the reason S&P cut America's debt rating. But it was part of a chain of events, including also a stock-market plunge and an emergency Oval Office meeting, which could have serious and lasting consequences for America's standing in the world, the Obama presidency and the reputation of S&P. online.wsj.com...

One day after the stock market took its biggest plunge since the 2008 financial crisis, President Obama on Tuesday canceled a previously scheduled speech at a local moving company, and the White House also pulled the plug on the daily press briefing.

Instead of traveling to Springfield, Va.-based Interstate Moving Services and making public remarks on fuel efficiency standards for work trucks, Mr. Obama will meet privately with industry officials at the White House this morning — and that meeting will be closed to the press, the White House announced in a scheduling update Tuesday morning.

In addition, a 12:30 briefing with press secretary Jay Carney has been canceled, the update said.

On Monday, the stock market suffered its worst blow since before the president took office, with the Dow Jones Industrial Average plummeting more than 630 points — losing more than 5 percent of its value and plunging below the 11,000 line. The turmoil came after ratings agency Standard & Poor’s late on Friday cut the country’s credit rating from AAA to AA-plus for the first time in U.S. history.

Mr. Obama addressed the downgrade in a brief speech Monday, but his remarks failed to calm the markets, which only continued their decline. In the address, he said S&P’s decision is a result of Washington gridlock and the lack of political will in the nation’s capital.