Obama Has Been Waiting All Week to Use This Line

NEW YORK, NY - APRIL 06: President Barack Obama delivers remarks at the 20th anniversary of the Rev. Al Sharpton's organization National Action Network on April 6, 2011 in New York City. With about 19 months to go until the 2012 presidential election, President Obama launched his reelection campaign last Monday. (Photo by Spencer Platt/Getty Images) Photo: Spencer Platt/Getty Images

We "could lose our country's AAA credit rating, because we lack a AAA political system," the president said in his brief, debt-ceiling press conference this morning. (Talk about a straw man! Who exactly has been touting the efficacy of American politicians this summer?) The rest of the speech was a mixture of minor scolding, directed at Republicans, and major reassurances, directed at the markets, that something will indeed get passed. "There are a lot of crises in the world that we can’t always predict or avoid," Obama said. "This isn’t one of those crises."

The market wasn't so calmed, though — it dropped six points following the speech, which didn't offer much of a specific gameplan.

The president did, however, urge Americans to keep calling, emailing, and tweeting their congressmen about the debt crisis. If congressmen are checking their @ replies on Twitter today for guidance, this ship might really be going down.