President Obama on the S&P downgrade:
“Markets will rise and fall, but this is the United States of America,” Obama said. “No matter what some agency may say, we’ve always been and always will be a AAA country.”
Translation: “Don’t worry if you lost a quarter of your life’s savings within the past one week. This is the United States of America. We will continue to borrow and spend, and live beyond our means.“
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