President Barack Obama speaks about efforts to prepare veterans for the workforce, Friday, Aug. 5, 2011, at the Washington Navy Yard in Washington. (AP Photo/Carolyn Kaster) (AP)
Obama calls U.S. AAA nation despite AA+ Rating
President works to allay economic anxieties in the aftermath of Friday's S&P downgrade
August 8, 2011 10:17PM (UTC)
President Barack Obama says the U.S. always is and always has been a triple-A country, despite its rating agency downgrade.
He said also the U.S. didn't need a rating agency to tell it that it's political system was having trouble functioning.
Speaking at the White House on the Standard & Poor's downgrade, Obama renewed a plea to Congress to take action in September of help create jobs and cushion Americans from a still weak economy.
Obama said financial markets around the world "still believe our credit is triple-A. I and the world's investor's agree."