Obama: US ‘Always AAA Country’

The decision by Standard & Poor’s to downgrade U.S. debt underscores the need for a major agreement on deficit reduction, President Obama said Monday. The president said U.S. debt remains world-class in the eyes of the markets despite S&P’s downward revision — from Aaa to Aa+ — on Friday, but said it was up to the so-called “supercommittee” established by the compromise debt-ceiling legislation to produce an agreement that can forestall a future slide in U.S. creditworthiness. “Markets will rise and fall, but this is the United States of America,” Obama said in the state dining room. “No matter what some agency might say, we’ve always been and always will be a AAA country”/ Michael O’Brien , The Hill. More here. (AP photo)

Question: How low to you expect the market to go before it levels out this time?