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SPEAKING AT THE WHITE HOUSE AFTER STANDARD AND POORS DOWNGRADED THE UNITED STATES CREDIT RATING FROM AAA TO AA+, PRESIDENT OBAMA SAID THE UNITED STATES ALWAYS IS, AND ALWAYS HAS BEEN, A TRIPLE-A COUNTRY... DESPITE ITS RATING AGENCY DOWNGRADE. STOCKS TUMBLED FOLLOWING STANDARD AND POOR'S DOWNGRADE OF THE LONG-TERM U-S GOVERNMENT CREDIT RATING. President Obama blamed the downgrade in the United States' credit rating on political gridlock in Washington and said he would offer some recommendations on how to reduce federal deficits. In this clip the President says: ÒGood afternoon everybody. On Friday, we learned that the United States received a downgrade by one of the credit rating agency not so much because they doubt our ability to pay debt if we make good decisions but because after witnessing a month of wrangling over the debt ceiling, they doubted our political systems ability to act.Ó