Had Obama been flanked by Boehner and Reid and had the support of Congress, the U.S. would've proved S&P wrong. There would've been some reassurance for the markets. But there is no patriotism, no sense of country first. The republicans will milk the downgrade all the way to the presidency. Obama's only hope of re-election is if Rick Perry (who's announcing Saturday) beats Romney.
Full video (transcript of Obama's speech today):
Live stream at 1 pm ET. It seems to me if republicans and democrats rallied around POTUS and took a stand against Standard & Poor's, then S&P would be proven wrong. But alas, S&P isn't wrong about our politics. Tea party wouldn't touch Obama with a ten foot pole and republicans wouldn't go against the tea party. Democrats are just spineless.