Although it was well-telegraphed, I was still plenty surprised when Standard & Poor's downgraded the United States a notch from the highest credit rating AAA to AA+. But it seems I am now one voice in a growing chorus that believes Standard & Poor's made a massive mistake. Some might think the rating change to be a nuanced difference, but having held the coveted AAA moniker since the inception of credit ratings 70 years ago, the U.S. downgrade was quite significant from a psychological point of view and less so from a financial point of view. I focus on the psychology because the actual report was so light in its fiscal critique–even though I readily admit we have deficit issues that must be addressed. In fact, S&P's report seems to downgrade America's political system more than anything else.