The New York Times: “‘It’s not a lack of plans or policies that is the problem here,’ Mr. Obama said Monday in his first public comments on the economy since Standard & Poor’s downgraded the country’s credit rating last Friday. ‘It’s a lack of political will in Washington. It’s the insistence on drawing lines in the sand, a refusal to put what’s best for the country ahead of self-interest or party or ideology. And that’s what we need to change.’”
Mr. Obama then offered, with no modification or expansion, that he would be presenting recommendations to a Congressional committee charged with creating a deficit reduction plan, but hewed to the same central points that he had made during the debt ceiling negotiations, principally that spending cuts must be accompanied by tax increases.
The Boston Globe’s front page headline, with a photo of a stock broker’s head in his hand: “An avalanche of worry.”
The New York Daily News’ cover: “Panic!” over a broker’s shocked-looking face and a zig-zagging down arrow.
The conservative New York Post plays politics and tries to put it on Obama: “Tanks a lot!” reads the cover headline over a grim-faced Obama.
But memo to conservatives and Republicans: If you’re going to pin the stock market’s drop on Obama, then you have to admit his presidency has been widely successful -- just judging from the Dow. When he took office, the Dow was around 8,000. Now it’s 10,800-plus, even after the past two weeks.
DNC Chairwoman Tweeted that members of the Tea Party were “‘tyrants’ who blocked a more comprehensive bargain on the debt ceiling,” The Hill writes.
“President Obama will unveil the first-ever federal fuel efficiency standards Tuesday for a range of heavy-duty trucks, a move the White House is casting as a key part of its plan to cut foreign oil imports and slash harmful air pollution,” The Hill writes.