Yesterday, President Barack Hussein Obama (mm mmm mmmm) give his first public comment about Standard & Poor’s downgrade of U.S. debt to AA-plus from AAA. When Obama began his speech, the stock market was struggling, with investors looking for a sign of hope, at -320.

Evidently, Wall Street was not impressed with the president’s pontification (or as Rush Limbaugh dubbed him, Debt Man Talking). Stocks immediately strated sinking like the Titanic, ending the day at – 634.

According to reuters.com, Obama tried to achieve the following points with his speech, which (of course) was delivered 40 minutes late:

* Reassurance. Obama wanted to underscore to Americans that the United States remains the economic envy of the world despite the credit downgrade and will work its way through its fiscal problems.

“Markets will rise and fall, but this is the United States of America. No matter what some agency may say, we’ve always been and always will be AAA country,” he said.

* Persuasion. Obama sought to use the S&P downgrade to his advantage in a long-running dispute with congressional Republicans over how best to stem Washington’s red ink.

Republicans want only spending cuts, a position Obama’s Democrats believe is unreasonable given the pressing need to maintain spending for the social safety net.

While a joint bipartisan congressional committee will chart a way forward on reducing deficits by late November, Obama made clear where he stands: he wants to increase taxes on wealthier Americans and an end to some corporate tax loopholes to ease the pain of spending cuts.

* Influence. Obama said he would lay out a specific vision for deficit reduction to help the congressional committee.

That was considered the big news from his remarks because, technically, the recent deal on deficit reduction puts the next phase in the process in the hands of lawmakers in Congress.

No, Reuters.   Just as your Personal Credit Rating depends on the wisdom and credibility of the one writing the checks in your house, so does America’s Credit Rating depend on the wisdom and credibility of the individual writing the checks in the White House.

And, as the Stock Market showed yesterday, Scooter does not measure up in either of those categories.

Here’s a question, though, gentle reader. Why did the president go golfing at Camp David this weekend, instead of dealing with this historically horrible Downgrade? 

I mean, after all, he doesn’t have any friends or mentors who might profit from a downgrade of America’s Credit Rating, does he?

Yep.  He sure does.

Per dailymail.co.uk:

A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.

Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market, or if the bet happened at all.

There were mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.

The link has been made to Mr Soros in part because he has been tied to President Obama’s administration since 2008, reported The Examiner.

He also recently stopped managing money for outside investors, meaning he is under less scrutiny from the Securities and Exchange Commision.

But the mystery bet could easily have been made by another trader with similar resources, despite Mr Soros’s links with the Obama administration.

The bet also raises questions of whether President Obama and Treasury Secretary Timothy Geithner knew that a downgrade was on the cards.

Mr Geithner said in April there was ‘no risk’ of a downgrade – but the government now appears annoyed, not surprised, by last week’s decision.

He has since slammed S&P for showing ‘terrible judgment’ in their decision and a ‘stunning lack of knowledge’ of U.S. fiscal budget maths.

Hmmm.

On  the heels of Obama’s miserable performance, Former Alaskan Governor Sarah Palin published a Facebook post yesterday, titled, Conquering the Storm, in which she blasted our anti-American President, in a way in which only the Arctic Fox could.  I’ll end my post today, quoting her eloquence, with the words by which she ended hers:

Be wary of the efforts President Obama makes to “fix” the debt problem. The more he tries to “fix” things, the worse they get because his “solutions” always involve spending more, taxing more, growing government, and increasing debt. This debt problem is the greatest challenge facing our country today. Obviously, President Obama doesn’t have a plan or even a notion of how to deal with it. His press conference today was just a rehash of his old talking points and finger-pointing. That’s why he can’t be re-elected in 2012.

Our economic news is disheartening and the task before us can seem daunting, but we must not lose our sense of optimism. People look around today and may see only the negative. They see a culture and a nation in decline, but that’s not who we are! America must regain its optimistic pioneering spirit again. Our founders declared that “we were born the heirs of freedom.” We are the heirs of those who froze with Washington at Valley Forge, who held the line at Gettysburg, who freed the slaves, carved a nation out of the wilderness, and allowed reward for work ethic. We are the sons and daughters of that Greatest Generation who stormed the beaches of Normandy, raised the flag at Iwo Jima, and made America the strongest and most prosperous nation in the history of mankind. By God, we will not squander what has been given us!

Our destiny is still in our own hands if we pick ourselves up and act responsibly and quickly. We must all get involved. Concerned Americans must seek truth, work harder than ever, and be willing to sacrifice today to ensure freedom tomorrow. Please get engaged in 2012 electoral politics and support experienced, vetted, pro-free market fiscal conservatives who will dedicate all to preserving our Republic and protecting our Constitution.

– Sarah Palin