the white house from what this downgrade means for the u.s. good morning to you, john. >> alex, this is the kind of historical first that no country wants to have happen. a huge symbolic blow to the united states, and this economy, which has always enjoyed a gold plated credit rating. it's also embarrassment to all involved in the process. to president obama because it happened on his watch. to republicans because the president now has a tangible consequence to point to of the way they played the debt and deficit reduction deal, and to standard & poor's because of the back and forth over their math before they finally released that credit rating at the end of the day yesterday. now, the hope of the administration is that this doesn't have major tangible economic consequences. it doesn't raise the interest rates of every american on their car loans and their mortgage loans. the reason for that is that two of the three major ratings agencies have kept the united states at triple-a status. the administration is also hoping that few investors will be forced to divest by their investor guidelines.
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