[...and not primarily the S&P downgrade.]
Perhaps the downgrade came as a result of the GOP failing once again to do its duty to stop the communist democrats from continuing it spending spree by giving Obama the taxpayers monies he loves to spend so recklessly. The weak pubs again did the wrong thing again by raising the dept ceiling instead of requiring the President and the left wing to capitulate to cut, cap and balance the budget overuns.
It is time for conservatives to boot the pubs and go third party or lose all to the ever active communist dems of America.
It is time to nut up or shut up. And the pubs shut up, as usual.
His reluctance to take on the entitlements is the problem; he doesn't want to do it because it takes away the election issue with which he can club the GOP.