Read time: 1 minute

Jim Cramer Accuses Obama Of Creating 'Tremendous Fear' And 'Panic'

After explaining all of the terrible things that would happen if the U.S. debt ceiling was not raised, CNBC's Jim Cramer said Sunday that all the "fear" and "panic" had actually been caused by President Barack Obama. "Now we're talking about a
9 years ago by David
Views:

After explaining all of the terrible things that would happen if the U.S. debt ceiling was not raised, CNBC's Jim Cramer said Sunday that all the "fear" and "panic" had actually been caused by President Barack Obama.

"Now we're talking about a recession," Cramer told NBC's David Gregory. "We will be in recession if this is not resolved. Recession means many fewer jobs, means far fewer tax receipts, trillion dollars lost -- IRA, 401K -- trillion dollars lost in job creation. I'm hearing about little amounts being saved here versus what will be lost in the next six months if this is not resolved."

"I'm tired of hearing all the media talking about how this is a crisis," Rep. Raul Labrador (R-ID) replied. "We will solve this problem."

"I want to talk about what the congressman said about the media exasperated or even caused the problem," Cramer complained. "We were all hopeful in Wall Street and in Main Street that the president would come out and say a few things that said compromise."

"He came out and panicked the heck out us. He talked about the higher interest rates for mortgages. He talked about the spiking credit card. He talked about how hard it's going to be to get student loans. He took us all aback because we felt he would be a compromise leader. Instead, he created tremendous fear. Tremendous fear means uncertainty. Uncertainty means no spending. Uncertainty means no spending by business. Uncertainty means to hiring. It was a setback. He caused the panic, not the media."

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $21 for 2021? Please consider a one-time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team