But now S&P has provided the others 'cover' for downgrading. Since part of the reasoning of S&P was that US politicians were willing to play chicken with event

But now S&P has provided the others 'cover' for downgrading. Since part of the reasoning of S&P was that US politicians were willing to play chicken with events of default, I don't see that this is an easy hole for the US to dig out of. The fact that politicians in the US were openly discussing 'how bad would a default really be' sums up why the AAA rating was no longer deserved. IMHO, 80% likely that the other agencies will follow within a couple of weeks.