Actual Credit Rating report by S&P, thoughts?

S&P sucks anyways.

Or perhaps you could pay attention to this section:

Perhaps you missed this:

Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing.

And

The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

Edit: re the "they wanted $4 trillion," note this:

Standard & Poor's President Deven Sharma told a congressional panel Wednesday [July 27] that previous reports indicating Congress would need to make $4 trillion in deficit cuts over 10 years to retain the top credit rating were inaccurate.

Right-wingers blaming President Obama is predictable but analysts at Standard & Poor's stated in their report S&P was looking for $4 trillion in cuts over 10 years. Congress settled for less than $2 trillion instead of the $4 trillion Obama was pushing. The S&P team cited a "contentious" political process and a fiscal consolidation plan that "falls short" as the primary reasons for the downgrade.

Its a Fraud Company rating a Fraud Country.