I think Obama's telepromter was broken, but the theme seems to be clear:
"I'm a loser, baby, so why don't you kill me."
The People's Cube has a clear and concise summary:
WASHINGTON -- President Barack Obama came out swinging Monday in his first public remarks since S&P downgrade of U.S. creditworthiness, congratulating Americans on achieving a moral victory by redistributing the unfairly gained superior AAA rating to the less fortunate and more deserving countries, some of whom don't even have an alphabet. Calling the loss of an 'A' a "shared sacrifice" and "exercise in global economic justice," Obama went on to explain that our loss is someone else's gain and that we must have less so they have more is an idea worth fighting for. "By dropping that single 'A' from our credit rating we are in effect sharing it with a needier nation - like North Korea - that now can afford to borrow more money from China in order to feed its thriving population."
Once again demonstrating his exceptional ability to feel good about himself in a time of crisis, Obama pleaded for a renewed focus on good intentions that, despite the lackluster results, have garnered much benefit to those needy Americans who run the increasingly expensive government bureaucracy.
"Let me be clear: for us to feel good about ourselves is worth every penny removed from the pockets of hard-working families and communities all across the country. This is what shared sacrifice means," the president said from the State Dining Room in remarks that were delayed more than two days of his birthday and fundraising activities.
"My policies are based on a robust economic model: A big sinking ship raises the water level for smaller ships. And borrowing, printing, and burning trillions of dollars on massive infrastructure projects built by unemployed real estate agents and sacked mid-level managers is just what this country needs to get our common ship sinking just a little bit faster. The collapse of America will raise the volume of the waters beneath and will thus lift all previously disadvantaged ships, like North Korea, Cuba, Venezuela, and the new thriving democracies in the Middle East. Our shared sacrifice is good for everybody," Obama said.
"As American president I felt very strongly about destroying the US economy in order to strengthen our position in the world through moral superiority. Now that I have succeeded, I feel even more secure about my reelection in 1012.