And on the third day, Obama spoke about the downgrade

The White House (Photo from US Government)President Barack Obama’s demeanor was resolute as he spoke to the American people about the downgrade of the US credit rating.

Despite the fact Standard & Poor’s had already downgraded and Moody’s had placed the U.S. on “negative watch,” Obama’s address on Monday had a tone suggesting he sought to reassure.

First, however, Obama sought to remind.

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How credible are ratings agencies in US debt game?

Video: During Congressional hearings, Rep. Kevin Brady (R-Texas) reminds Treasury Secretary Tim Geithner of his direct connection to the US fiscal crisis. Geithner was over the Federal Reserve Board of New York before he joined the Obama administration.

AS POLITICIANS MAKE CLAIMS to media about raising the debt ceiling and the need to cut spending, many of them quote various ratings agencies like a fiscal holy book.

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