
National Journal referred to the downgrade as an “ignominious legacy for Obama.”
What was worse was that the Obama administration seemed blindsided by the downgrade. Treasury Secretary Tim Geithner told a House panel in 2010 the bond rating was safe and that “there’s not a chance” it would get downgraded. In April of 2011, just months before the downgrade, Geithner said there was “no risk” America’s credit would be downgraded."
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