Mr. President

Obama speaks on the national credit downgrade today. He says the problem is not a lack of international confidence in our credit. He says that our problems are solvable. The chit-chats about some other things before telling us that the solution is tax reform and health care reform. His tax reforms include having those who can afford it pay their fair share.

I would like to ask what happens when you ask the wealthy to pay more taxes (even though they are already paying more than 85% of the nation's revenue... that's less than 10% of the population now)? Tax the rich and the poor lose jobs. That's how I see it. Where do the jobs for the lower and middle classes come from? The wealthy who create them, right? Tax the rich more so they are paying "their fair share" and they don't have as much money to spend. Therefore, fewer jobs, more insecurity, and I'm sure we have a less stable economy to look forward to. Not to mention awful health care reforms.

As an interesting note, the DJIA (DOW) dropped between 25 and 30 points from the time the president began speaking to when he finished (less than 15 minutes). The Dow is currently down a total of 400 points - give or take 2 or 3. I think the people of this country have lost trust in the government's ability to manage the country.

40 minutes after his speech - DJIA down 550 points.

And the DJIA closes today at -634.77 (-5.55%), $10,809.85...

Yes, we need reform. But the reform we need is to stop government spending, not raising the debt ceiling.

Just my opinion.