The Washington Examiner says it best "At a time of crisis, Obama plays politics". The NY Post wasn't very impressed with Obama's speech either. Panned again, by John Podhoretz. Rich Lowry adds his thoughts on the first President in our history to have our credit rating downgraded.

Thomas Sowell writes in NRO about the GOP's Pyrrhic Victory. For the life of me, I do not understand why the GOP is being blamed in recent polls (obviously, the respondents do not watch Fox News, they must be Michael Moore clones) ...yes, they spent far too much under Dubya, but the spending on entitlements has been driven by the liberal left and the media. If the current administration would end the out-of-control regulations and admit Obamacare is unaffordable, the economy would begin to turn around. More people working, more people paying into rather than taking from the system. If Obama says one more time that there must be "shared sacrifices" he best be supporting a flat tax for everyone. Shared sacrifices means everyone, not just the rich.

The WSJ sees a silver lining in the downgrade.

Larry Kudlow says it is no time to panic.

The Mercatus Center gives a good history lesson on fiscal reform.

More on Fast and Furious. Some Random Thoughts from Thomas Sowell.

We've saved today's best for last, a scathing indictment of Obama's intelligence by Bret Stephens.