Big surprise, the markets aren't responding well to the Obama downgrade.
I do believe you are mistaken. In fact, I know you are mistaken. It is the Republican's downgrade. They get the credit. Obama offered a compromise plan that cut over $4 trillion, but the Republicans didn't want to cut that much.
So the meme now is Obama wanted to cut spending and the GOP was opposed? Yeah, that sounds credible.
It is amazing the spin the left insists on here. The record is clear: The Dems have not passed a budget in over 2years. Obama has not proposed anything resembling a serious plan. His own budget got voted down unanimously in Feb, by a Dem controlled Senate. A deal was struck only when Obama was cut out of the loop.
Fortunately Americans aren't that stupid. It is Obama's and the Democrats' downgrade. It is caused by the incredible increase in spending and debt to GDP. There was no, zero, talk of downgrades while Bush was in office.