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America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.

It's been years, decades, since a president has lost a major trade initiative. That would be bad headlines.

The impact of the downturn is starting to feel very real. House prices and the housing market have been taking the knock for some time and that's affecting people.

Investors should be cautiously positioned as the global economy and markets face major uncertainties. The downgrade will be a further headwind to growth and job creation in the U.S.

The direction of this country is going into the wrong direction.

President Obama is traveling around the country, proposing a stimulus bill that has already failed once. Instead of having an honest discussion about whether or not a plan that already failed once will fail again, the establishment would rather distract the American people with gossip.

Well, I think the president is going to do well in terms of his influence for positive change here in the Congress, making sure that we don't overspend, making sure that we spend for only those programs that are justified.

I think blaming the president for high gas prices is like blaming Rudy Giuliani for 9/11.

And, frankly, what happens out of Washington is, it creates a wind in my face, uncertainty over Obamacare, uncertainty over their tax policy, uncertainty over the regulatory policy.

The problem, gentlemen, is that Obama is right: The promise of upward mobility is dying in America, and no amount of political demagoguery will fix it.