The Washington Times - August 8, 2011, 01:56AM



President Barack Obama appeared on NBC’s “Today” show with Matt Lauer - February 2, 2009:

OBAMA: One nice thing about the situation I find myself in is that I will be held accountable. I’ve got four years.

LAUER: You’re going to know quickly how people feel about what’s happened.

OBAMA: That’s exactly right. And a year from now I think people are going to see that we’re starting to make some progress, but there’s still going to be some pain out there. If I don’t have this done in three years, then there’s going to be a one-term proposition.

The video above re-surfaced on the web back in late June and the Romney campaign even used the clip to make a political web ad. Since the video made it back on to conservative blogs in the beginning of the summer, the economy has taken a further turn for the worse amid the nation losing it’s top credit rating from Standard and Poor’s and a stock market dive.

Despite earlier reports in late June that U.S. Treasury Secretary Timothy Geithner was thinking of leaving the administration after the debt debate concluded, various outlets reported on Sunday, Mr. Geithner told President Obama he did not want to resign from his post. White House Press Secretary Jay Carney wrote in a statement: “the President asked Secretary Geithner to stay on at Treasury and welcomes his decision.” 

The clock continues to tick since President Obama made his proclamation on The Today Show in February 2009 that he would “be held accountable” if his financial agenda for the country did not turn the economy around. However, “the situation” the president currently finds himself and the rest of the country in is far from “nice.” 

The U.S. futures markets are already going downward following the S & P downgrade on Friday and the president along with his allies are far from taking accountability any time soon.