Obama and Congress' report card grade.
They have the historical distinction of being the only administration to have this happen in the history of the ratings.
The politicians will try to dismiss that a AA+ is not that big of a deal from a AAA.
We the people will now wind up paying even more for goods and services as the cost of borrowing money increase.
And the WH states the S&P is not looking at it correctly....In my opinion, the article I just read on the reasons for the S&P's action are 100% on target. Obama and Congress did not do enough in the latest bill to curb spending. Further the S&P has no confidence anything will be done as articulated even at the unacceptable level.

There are those who will respond with Obama is not responsible....please don't waste the keystrokes...he is responsible for what happens on his watch. He is directly responsible for not taking the lead on the debt debacle instead of the normal political flip flopping and dodging risk taking positions.

Just watch the smoke and mirror gang go to work now. And isn't it a coincidence that Congress will not be around for 5 weeks? I can't wait to hear the Obama spin for his campaign.

If Obama was a corporation head that just lost it's AAA rating he would be out of the job Monday morning. I personally believe he deserves no less. His failure to do what ever it takes to preserve the status of this country is not to be tolerated. We the people should not have to wait until 2012 to oust a non performer.

Like a corporate head, it does not matter whether there is an R or a D after their name..when they lose the rating they lose their job!!

btk