The Beltway Media was most disturbed by the timing of the President’s remarks concerning the budget deal in the Senate. President Obama spoke after the Senate vote, but before the House took action. [MSNBC] The two clock faces below will both explain the timing, and offering an indication of why reopening the government and avoiding default had international importance.
Remember: The Tokyo stock exchange opens at 7:00 PM eastern time; the Singapore and Hong Kong exchanges open at 9:00 PM eastern time.
When did the President speak? At 8:28 PM eastern time.
The President spoke before the openings of these two major stock exchanges, giving investors 32 minutes notice that we were not going to default on our obligations.