President Obama opened up about S&P’s downgrade Monday morning, according to CNN. In the video, which you can see below, Obama said that even though America’s been downgraded by the ratings agency, America can still solve their financial problems.

He also called on politicians on both sides to work together to find a solution that will erase this problem.

“We knew from the outset that a prolonged debate over the debt ceiling, a debate where the threat of default was used as a bargaining chip, could do enormous damage to our economy and the worlds,” said Obama. “…Our problems are eminently solvable. And we know what we have to do to solve them.”

Obama stated that the U.S. must tackle its budget deficits and that he will be presenting his ideas on how to take on the budget problems in the coming weeks at the congressional committee set up by the debt-ceiling agreement.

You can read the full article here at CNN.com.

What do you think about this news? Do you think America will be able to solve their financial problems, or are you considering some other financial options in order to help you get by? Leave your opinions in the comments section below.