>> bret: good evening. i'm bret baier. fox news alert. a buckle your seat belt day in the stock market spurred by a major decision by the federal reserve following monday's 635-point dive. stocks rode a roller coaster, before skyrocketing to a close. the dow jones/industrials average finished ahead 430 points getk back over the 11 thank you mark. s&p 500 took back 53. the nasdaq surged 125. in economic climate, every bid is unstable as the dow today. federal reserve took a step to inject a bit of stability. chief white house correspondent ed henry is here to tell us what that was and what the fed action says about the future. good evening.

>> good evening. the fed seemed to give the market certainty about interest rates but the same time, they seemed to give the president even more uncertainty about the re-election prospect. >> after a wild ride on wall street, the market finished with a surge. spurred by the federal reserve providing certainty. declaring it will keep the interest rate near zero for two years. >> the fed was telling businesses we're trying to give you an area to make long-term investment and goals because you know your rates won't spike up on you. >> the fed extraordinary decision suggests it believes growth will be slow through june 2013. >> a sign president obama is facing slow recovery through election day of 2012. >> it means the president will go before the voter to seek a second term in an economic environment. that is probably unappealing to most voters. let alone politicians. environment where people are

clamoring for growth, clam loring for jobs. >> often the president pays a price for that. >> that is reflected in the "usa today" gallup poll. 47% believe he merits a second term. the response from the president allies is to keep blaming the tea party and congressional republicans for forcing a near default during the debt ceiling debate. in the last eight weeks we lurgeed from one catastrophe to another. these are politically manufacturered crisis. self-inflicted wounds. >> there are signs that the strategy may pay off for the president. the "usa today" gallup poll found republicans and democrats on capitol hill faring worse than he is. only 24% of those surveyed said most member of congress deserve re-election. the worst level since gallup started to ask that question in 1991. analysts say the nation may be headed for another wave

election, that could be bad for both parties. >> the president numbers are bad. congress numbers are worse. it at least gives the white house scenario to mobilize people. against congress. >> this may be why we are starting to hear the democrats like charlie rangel urging the president to tell congress get off the summer break and come back to washington and work on jobs. the white house aides are taking a dim view of that. they would haven't a lot of action. they are content to wait until september to get back to the table on the economic issues. >> late today, is up the senate democrats made announcement about their picks for this supercommittee. >> we are waiting for the republicans to do that. harry reid is going to pick max baucus, john kerry and patty murray. baucus is a centrist and works with republicans on taxes and more in the middle. this could signal that they

are looking for a deal. "usa today" poll said six of ten americans want compromise. >> bret: patty murray head of the democratic senator call pain. >> on the left. >> bret: thank you. oil hit the lowest mark since september. crude fell $2 to close at $# 9.30 a barrel. gasoline is averaging $3.5 a gallon. five cents less than a week ago. gold hit another record high. closing at $1740 an ounce. up $30 from monday. price tag for president obama's healthcare law may be bigger than anyone anticipate anticipated. $50 billion bigger every year. correspondent shannon bream is here to tell us about new analysis with alarming conclusions. >> good evening. >> well that analysis comes from the national bureau of economic research.

they claim the budget office underestimated the cost of the healthcare law. according to the report, joint committee on taxation told cbo to calculate the cost by taking individual workers in account, not the family members that would also need to be insured. skeptics say the health and human services secretary kathleen sebelius will have vide latitude when it comes to how the healthcare bill is interpreted in practice. that could lead to different result than what the cbo predicted. >> how the bill will be implemented is different from how the congressional budget office and joint committee on taxation assumes that the bill would be implemented. if the bill is implemented in the way we expect it to be implemented, then it will be likely increase the cost of the bill by $50 billion per year after the premium tax credit come online in 2014. >> the white house is disputing the original story that unveiled finding of the new study saying, "this story

is not accurate. the affordable care act will extend coverage to millions of americans and bring down the cost of healthcare for all of us." additional details regarding the inple mennation of the law will be considered in future regulation. most of the regulations will come from h.h.s and secretary sebelius. the premium tax dread that are the subject of the new analysis are scheduled to kick in like many of the law's key provisions in 2014. bret? >> thank you. >> bret: brawnback is returning a grant to help them set up health insurance exchange because of the strings attached, he says, and doubt about whether the federal got can pay the grant in future. emotional homecoming today for family and friend of those killed over the weekend in afghanistan. president obama made unscheduled trip to the ceremony. national security correspondent jennifer griffin has the story to the pentagon.

>> president obama spent over an hour with the families of the fallen and the military top brass but thepedia was not given access because the pentagon said remains haven't been positively identified and 19 families asked the ceremony remain private. they announced brigadier general comet, deputy commanderer of the 101st airborne would lead investigation in to what brought down the chinook ch-47. weather enmy fired rocket propelled grenade and why so many members of one unit were on board one helicopter. was the root in the valley preprogrammed predictable? why were they flying the army chinooks with less fire power? why were members of the seal team six used for the immediate reaction force? rangers that called them in suffered no casualty and the field unit looked like it deployed in haste

there are more questions than answers tonight. lost of the coverage of the feel is the mention of the air crew. sergeant hamberger of the national guard arrived in afghanistan two weeks ago. airman zerbe of pennsylvania, pararescue jumper, and elite special ops position. air force technical sergeant john brown, pararescue man from fort bragg, north carolina, the army reserve specialist spencer duncan, gunner. alexander bennett, 24 years old of tacoma, washington. pilot ryan nichols, reservist from kansas city, missouri. the pentagon has not decided whether to release the full list of names of those who were killed in the helicopter crash. >> bret: jennifer, live at the pentagon tonight. thank you. it is just that, 11:00 p.m. in great britain where they have been unable to head off another night of violence. senior foreign affairs correspondent amy kellogg has the latest from london. >> it started again on

tuesday. before dusk in parts of northern england. on the move and the nervous shopkeepers boarding up businesses, fearing the worst in third night of rioting across the u.k. monday night led to scenes some liken to world war ii. the south london borough in flames, where this woman was forced to jump from her life from a burning home. there was widespread looting in several suburb of london monday night. individuals were looted. this man was beaten. help it up and had content of his knapsack taken off his back. >> these are sickening scenes. scenes of people lootingbe vapiddizeing, thieving, robbery. attacking police officers and even attacking fire crews trying to put out the fires. this is criminality. pure and simple. >> while it all kicked off saturday in a weigh of rage, targeted after the last man

was shot dead by cops in a poor neighborhood, the unrest now is largely looting. not sparing even those. this charity shop raises money for orphans was looted last night in the west london neighborhood. >> for now, the plan is just pleasant streets, tripling the number of officers who were out. >> police are contemplating using rubber bullets but it's not commonly done here, not in britain. only northern ireland. so far tonight it's calmer. that said we're seeing vigilante groups or groups with concerned sits that are out. in their own neighborhood.

>> bret: we will continue to follow it. philadelphia mayor called for the city of violence an and -- [ inaudible ] they are outrageed by this. the aclu and others say the curfew. we have more hard evidence of the president growing problems with his friends on the left. that's later in the grapevine. and straight ahead, the republican want that job are getting territorial about the g.o.p. field.

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>> bret: with a couple of days to go until the g.o.p.

republican candidate debate on fox the person attracting the most itension isn't a candidate yet. chief political correspondent carl cameron fills us in from iowa. instead of attending the iowa debate and straw poll this week, texas governor rick perry has been booked to speak at the red state.com conference of conservative bloggers in south carolina, home of the first southern primary where perry can play up his so you were roots. saturday he will visit new hampshire, home of the first of the nation primary and sunday he will visit iowa to take part of the g.o.p. dinner waterloo. that is the town where michele bachmann who is hoping to win the straw poll saturday was born and announced her candidacy two months ago. for now she is focused on this week's debate and straw poll. >> would you come to ames on saturday? would you give me your vote on saturday. >> fire bread evangelical conservative, perry has experience as governor that bachmann lacks and could overshadow her. his record in the lone star state of cutting taxes and budget service contrasts with

mitt romney who signed healthcare reform law in massachusetts that became the model for obamacare. romney leads the latest gallup poll at 24%. perry is in second at 17%. ron paul at 14% and bachmann at 19%. the res19 -- bachmann at 13%. romney says -- the obama fired back can crocodile tears from romney campaign which is nothing but negative don't pass the credibility test. but the entrance to the race could downplay tim pawlenty. he says the hype will diminish when he enters the presidential trail. >> any candidate can stand up here like a bobble head and give you the republican talking point. that is not the real issue. the issue is who has done these things as the leader under difficult circumstances and driven it to results? >> rick santorum slapped perry

for saying as a matter of state right he is is fine with other states legalizing gay marriage which evangelicals oppose. back now in iowa, humboldt county where michele bachmann is speaking and tim pawlenty will address a dinner, late add to straw poll festivities. the 2008 iowa caucus winner, former arkansas governor mike huckabee is taking part. he is not on the ballot. he's on stage, playing music in entertainment camp of tim pawlenty and herman cain. he made it clear he is not endorsing candidates. >> bret: he will be on our show tomorrow night from iowa. carl, we'll see you there. much more on this with the panel. all the candidates involved. we're just two days away from the next candidate debate. as we mentioned, the fox news debate cosponsor by the iowa g.o.p. and washington examiner airs this thursday. 9:00 p.m. eastern time. it should be good. california democratic governor jerry brown signed a bill that would award the state 55 electoral votes to

presidential candidate who wins the national popular vote. but that would only happen if state holding a majority of the 538 electoral vote approve similar legislation. so far, seven states and the district of columbia passed such laws. the republican national committee opposes the proposed change. voters in the state of wisconsin are deciding whether to shake up the state legislature in middle of the session. correspondent peter doocy tells us what this is all about. >> good luck. they are facing recall. on a single date, on a single level anywhere in the united states. >> no one anticipated that recall elections would be used in this way. >> if at least three democratic challengers are successful and those facing recall next week hold on republicans would lose the 19 to 14 majority in the state senate. even if that has, republicans will not relent. >> he'll have full control of the assembly.

in the east wing, governor office, we will march on with that agenda and do everything we said we were going to do in november. >> the republicans won in november 2010, across the board. they came in and implemented major policy changes in line with what they said they would do. >> now eight months later we have an opportunity for voters to ask do we want to a do-over or reaffirm what they did? >> democrats in wisconsin resist the republican agenda for months. they fled the state to prevent a vote on the budget repair bill which passed in a special session anyway. if voters decide a do over is what they want, and democrats win, they'll get a veto, but not much else. >> the state senate can block any legislation that comes from the assembly or from the governor. but it cannot roll back the changes that were made this spring and summer when republicans had control. >> so potential reversal might not come with a lot of new power but democrats say it could change the way business is done in madison.

>> we have never seen this type of divisiveness before in wisconsin. as a result, it's led to a very extreme agenda. if in fact we take control, it will begin to end polarization we felt in the state. >> county will send the individual results to the state on thursday. state has to wait three days to see if anybody wants a recount. if nobody does, that's when the results will be certified. >> we'll follow it. peter doocy live in madison. thank you. still ahead -- revenue solution democrats about republicans may be able to agree on. up next, disagreement on whether the u.n. is doing its job in east africa.@@

>> bret: checking world headlines. syrian troops launched more raids today. activists say 22 people were killed including eight children. it purports to show it moving through the streets today. the united nations is warning refugees could overwhelm the international aid effort in the region. it's estimated they need food aid due to the drought there. >> there are questions questions while the head is slow in covering. >> it raised $1 billion to fight et in africa. some critics argue more lives could have been saved in sue mallia if the world body acted sooner. wait long until things get

worse. when it is too little, too late. >> he says the u.n. should base relief operation for somalia in the capital of boeingdy shoe months ago rather than nairobi, kenya. >> one reason i asked for them to move to boeingdy sho to mogae what is happening on the ground. >> tup concerned secretary general says criticism over the handling of the crisis is unfair. >> they say they raise that in november. but facing famine was considered too difficult and dangerous. >> they warn somali it was better to starve than accept western aid. >> they claim the lives of 22 staffers. >> the fact that the u.n.,

itself, and the stall has been targeted in places like iraq, has been targeted in gans. this has affected the way the united nations looks at security. >> the, dreamist from mogadishu could make it easier to find food for people in need of the critical aid. fighting continues to make it a dangerous place for workers to save lives. at the united nations, david lee miller, fox news. >> japan is lifting evam wations advisories in some areas more than 12-miles from the damaged nuclear plant. the move opens the way for the 25,000 people to return home. the 12-mile no go zone remains in effect. it's said that nero fiddled while rome burned.

now many columnists and others across the bond say the european leaders are fiddling around while their economy tankss. that's next in grapevine. al gore let's loose on climate change deniers. service was very moving, wasn't it? yes, it was. i'm so glad we could be here for larry. at a time like this, friends and family matter most. even preparing this lunch is a help, emotionally and financially. mm, it's true. i was surprised to hear there was no life insurance. funerals are so expensive. i hope larry can afford it. i know. that's why i'm glad i got a policy through the colonial penn program. it gives me peace of mind to know i can help my family with some of those expenses. you know, i've been shopping for life insurance. do you think they have coverage for me, something that would fit into my budget? yes. you can get permanent coverage for less than 35 cents a day. if you're between 50 and 85, your acceptance is guaranteed.

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>> bret: now some fresh pickings from the political grapevine. president obama is taking serious fire from the left over a range of perceived

inadequacys. bill maher asked on the table show friday if hillary clinton would have been a better choice for liberals in 2008 to which one guest quickly answered yes. one of the liberal members bernie sanders suggested that a democratic challenger could surface. the "new york times" is calling for a broader vision. former msnbc anchor writes after yet another unconditional sur render in the debt ceiling talk he is has hit his tipping point. current msnbc anchor chris matthews complains that president obama handling of the debt debate was being coy, cute, too clever by half by not laying out his plan. climate activist and former vice president al gore calling some global warming deniers pseudoscientists, paid to dissimilar mate misinformation. he became emotional and profane at aspen institute forum last week.

>> bret: european leaders aren't letting the prospect of economic disaster keep them from the vacations. nicolas sarkozy is chilling by the mediterranean. his prime minister is relaxing in tuscany. britain chancellor in california where he rode the ride at universal studio. the cabinet of the debt-ridden ireland left dublin. however, as we reported, british prime minister david cameron did cut his vacation short to deal the london rio riots. our top story at the bottom of the hour. stocks rebounded today strong

in late afternoon following the federal reserve announcement that he will keep the interest rates low for two years. the dow gained 430 points. much of the volatility of late has to do with the fight over the debt ceiling. and also the uncertainty overseas. democrats want more revenue from the tax increases in one way or another. republicans reject increase in tax rates but chief washington correspondent jim angle tells us there is one option that many see as a possible middle ground. >> lawmakers and analyst ace like see reducing deduction and subsidy in the tax code as the neutral ground in the debate over revenue. >> this is where revenue deal is to be done. i don't think there is political will for significant increase in tax rate. the deal can be done to lack at tax preference and walk them back. >> devoting some saving to

deficit reduction and some to reduce the tax rate. >> tremendous sum of money to be used to lower the marginal tax rate, to rates lower than most of us conceived of. and raise revenue to close the deficit. >> both parties would get something. revenues for democrats and tax rate reduction for republicans. there are at least theoretical savings to be had. the tax references add up to $1.3 trillion a year. more than individual and corporate tax collection combined. the list include easy targets such as subsidiaries like congress is already after. more than 200 a together. >> rethinking everything we do in the budget, they should get the scrutiny we're applying to spending programs. >> the big ones are things that million of americans know and love. not taxes people for employer provider health insurance. home deduction is the decade largest.

>> interest on the mortgage, you can do away with that. the 401(k) plan? that is a tax expense. are you doing away with that? >> others including the co-chairman of the fiscal commission note many tax break goes to the well off. >> the top 4% of the income earners in the united states. >> the biggest dollar amount goes to high income folks because they benefit the most from the tax break in general. >> fiscal commission assumed $400 ball year in saving, such as limiting the mortgage deduction to homes worth no more than $500,000. none of the cuts will be painless, but no other way to increase revenue has much of a chance in washington, jim angle, fox news. apple has surpassed exxon-mobil as the most valuable company in the u.s. apple stock gained enough this afternoon for the market capitalization.

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the feds didn't want to look like they were panicking. they know they have to and it's clear they see the slower economic growth. they were blaming it on jo pan and the weather and now they see a slowdown in the economy. >> it's striking that on a day when the market obviously took a hit, when there was a flight

to safety, the money went to the u.s. treasury bonds. >> maybe a good wake-up call. look, we have $14 trillion debt, the size of our economy. that alone makes you look a lot like greece. >> bret: well, the market rebounded a bit today. surging 430 points, especially late in day after the federal reserve took action. saying, basically that interest rates are going to stay very, very low for the next two years. something that rarely the fed does. project that far in the future. let's bring in the panel about this. steve hayes, senior writer for "weekly standard." juan williams, columnist with the hill. and syndicated columnist charles krauthammer. what about this action, charles? >> i thought the late-day rally that we saw probably started around 3:00, when the president would not address the country, cheering and thrown in the air. general international

exuberance. that is an attempt at satire. trying to get a chuckle. >> bret: i figured i'd let you go. >> you have to explain yourself, it's -- >> bret: the crickets were chirping. okay. >> i guess i wasn't cut out for that. the real story is what happened around 2:00. the man who really runs america, chairman of the federal reserve said for two years, keep interest rates low. normally, the chairman will say words like indefinitely, or for a while. they'll use the obscure words. but he was extremely specific. this is a contrast from the predecessor. he spoke in language that was so opaque and obscure you think you were listening to distinct himalayandy lecht. this ilecht -- himalayan dialect. he said two years so at a time when there is uncertainty about tax and regulation, all

caused by the administration and the government, he was extremely clear, extremely specific. i think now there is a downside because one of the reasons that we are where we are is a long period of artificially low interest rat rates. this could prolong the market. >> bret: today the market responded positively. juan, in the long-term, that suggests that the fed sees a weakening u.s. economy. enough concern to put out there to try to have some stability, as charles mentioned. also, didn't hold out, didn't close the door to a possible pumping in billions of dollars known as quantitative easing three. >> right. i think the key thing here, sometimes it can be very difficult. was that there was a division here in terms of the final vote. that ben bernanke still clearly controls the federal reseven. no question about it.

solid majority, saying we're not sure if we are artificially sustaining the economy. that leads us to what you were talking about. will they, in fact, go forward in terms of the additional purchases? not just bonds but the other instruments available to them? taking steps that would be necessary, because they do see to say now that the economy is at a slow growth path of any growth at all. that means that they are predicting at least now through the spring of 2013. >> bret: just for people sitting at home, they heard quantity ittive easing. essentially pumping billions of dollars in the economy. some people describe it as putting oil in a car. you can put so much in. but at some point it gets the engine gunked up. whether it's a good thing or bad thing, it's making sure your measure to how much money you pump in and how much money they print. >> concern is it will lower the value of the dollar. we could see inflation. that explains the three people that weren't with the other

seven today. if you look at what bernanke said and what he did today, the fed gradually revised the growth from the spring to june. 2.9 to 2.7%. now they are suggesting that it's going to be even slower. but there seems to be an incon analysis stepsy here. you also had the fed say they expect the unemployment to continue to decline just at a slightly slower rate. that seems to me puzzling. with the unemployment being a lacking indicator and gdp revised down dramatically. you are talking about the gross domestic product in the first half of the year at about .8, i mean, that is incredibly slow. i would expect that unemployment would likely rise rather than decline. even if it were declining more slowly as the fed suggests. >> bret: okay. same time, congress getting ready for the supercommittee that has to come up with the recommendations to cut another

$1.5 trillion. the democrat announce their choices. senator reid did. max baucus, patty murray and john kerry. what about the picks? steve? >> the most interesting pick is patty murray. she is interesting. she serves on the budget committee and she has some credibility on budget issues but especially striking because she is running the democrat senatorial campaign committee. she is the lead political person for democrats for the senate. going in the 2012 election cycle. it's striking. if you look at the rhetoric as i did before we came on, on the dscc website they have a petition. it says we need to fight the g.o.p. plan to end medicare. the g.o.p. plan to end medicare is off the table. sign our petition because it's going to be the issue in the next election. this does not sound like somebody coming to a debt committee eager to make nice with republicans and tackle

what is -- medicare is driving our debt. that is going to be the long-term problem. she is saying if this represents her thinking that is off the table. >> bret: on the flip side, max baucus is seen by many as willing to negotiate. what about the picks? >> steve and i often disagree and i'm afraid tonight we disagree again. this is a group of moderate democrats who are open to negotiation. what steve is saying about patty murray she is a political person, head of the senatorial committee. democrats are on the rope in terms of holding on to the senate so there is rhetoric there. medicare proven to be a potent political issue in terms of a willingness to negotiate and go after the entitlement spending, which is key for democrats, they have the people there who say don't do anything on entitlement. this group is willing to do it. therefore would put the onus on the republicans to see if they are willing to do something about taxes. >> bret: charles? >> that is a group of moderates, we have a new dictionary definition of

moderation. look, the way the committee is structured you only need one crossover. it's 6-6. if one crosses over it goes to a vote in the senate and the house. so you can have a lot of hardliners. always the question is, is there one guy or a woman who could be a flip? that could be a baucus. it's encouraging. >> bret: we'll see who the senate republicans and the house dems and the republicans put up in the number of days. probably by the end of the week. next up, 2012 race. stay tuned.

this economy is not going to get any better in the next year-and-a-half with this administration because not one

policy in the interim and i don't believe that this president is going to have an emaculate conversion overnight. give me your vote on saturday so i can take this movement and your voice to the white house. >> it seems they would substitute the harry trueman the buck stops here with the new model for white house, the buck stops somewhere else. >> bret: well, we'll take "special report" on road starting tomorrow from ames, iowa, the site of the debate on thursday night. the next big debate. then the straw poll on saturday in ames. the latest gallup poll just out. you can see the percentages. mitt romney, 24%. governor rick perry, 17%. ron paul is 14%. michele bachmann, 13. the rest, gingrich, mccain, pawlenty, huntsman, santorum. rick perry, governor of texas, has a big speech in south carolina this weekend. he has been flirting aggressively getting in this

race. here is what the spokesman said. the governor is not a candidate for office at this time. with president obama's dismal economic record and texas' success in creating jobs and balancing our budget, governor perry continues to consider a potential run for the white house. stay tuned. the flirting continues. back with the panel. juan, governor panel seems to take a lot of the oxygen out of some of the candidates on the road. >> he sure is. a governor, well known, had a prayer meeting in texas that got a lot of attention. a terrific turn-out. raised criticism about mixing politics and religion but number, spoke directly to evangelical forum quite prominent in iowa. if he were to show up, as you can see from the poll, he'd be a player. a lot of people are on the edge right now beginning with miss bachmann, michele bachmann saying hey, you know

what? he is not the real deal. they're picking at him in advance of him showing up in the race. >> bret: he is not taking part in the debate. he is not going to be at the straw poll. does it hurt him in iowa? where does it put him in the race there? >> you know i imagine his name will probably come up in the debate. >> bret: something tells me. >> at some point. i think it does hurt him in iowa, but does he need iowa to ultimately win? he could probably make up for that. it would be good for the process if he would show up in iowa. but what he is doing is clever. gets the speech on saturday to announce he will be a candidate, what he in effect will be doing is ensuring that he will be sharing a headline with what comes out of ames. if you look at the people likely to do well in ames, michele bachmann, maybe tim pawlenty outperforms expec expectations. he is trying to kill who would likely be the rival for the non-romney candidate.

if he is step tong headlines or momentum out of ames, not a bad mood for him. >> bret: a few people that ames is a moment. tim pawlenty. herman cain says he needs to finish in the top three. ron paul traditionally has done well in straw polls and his organization on the ground. gingrich, where does he stand? who needs to really make a mark this week, charles? >> everyone you mentioned. iowa is a whittling process. caucus, early, it happens in the straw poll and it will happen in the debate. tough second tier candidates whom you mention. one of them will possibly survive. pawlenty has the most at stake because he put the most in. he has been there for a year and had 40 events. if he doesn't do well in the straw poll and/or the debate, he's gone. others have lower expectations but still, if they don't register, cain, gingrich,

santorum or the others they're basically done. what is interesting is why perry is so high on the poll. the statement you read of the campaign, the most coy statement i every heard from a non-candidate. haven't decided if we're running but our record is terrific and the president's is awful. stay tuned. he might announce on saturday. somebody wrote today he would be the first candidate instead of competing in iowa, run against iowa stealing all the thener. that is the strategy. >> who is interesting to me is paul. he is doing well in iowa. i don't this it will thrill a lot of the republican establishment. >> bret: if you have a question you'd like to ask. bret baier is the twiter account. don't forget to tune in for the debate. sponsored by fox news, and

"washington examiner" begins at 9:00 eastern. that's it for this panel. stay tuned to see analysis for other double-a plus

>> bret: finally tonight, there has been a lot of reaction to the s&p's credit downgrade of the u.s. from a.a.a. to double a plus. also focus on the countries that have that cold fronted aaa rating. some are not all that impressive. >> aaa ratings are reserved for financial power houses like the isle of man. that's why the smart money is now putting everything in uncarted wool and wind left is. because according to the s&p, this god forsaken rock in the eye ricial sea is more trust worthy than the richest most powerful country in the world. america gets a aa plus. the only two other countries with that rating are belgium and new zealand. that's us now. waffle eating-kiwis, putting