Is the government entering a "Double Dip Recession?" (The Bad News About the AAA Downgrade by the S&P)

 The U.S economy has only grown 1%.. Wow.. We are in trouble! Has the recent downgrade by the S&P made "cash" money king again? This is the first time in history this has happened. Canada and places in Europe have a higher credit rating that we do now.  Does this mean that you should take your money out of the bank and liquidate your solid assets to protect your holdings? For those of you investing in your company's 401K, it may very well be a good time to rethink your financial future.

This is a crisis that we have created for ourselves. Our foreign polices and national arrogance has facilitated an elitist environment that may end up causing us to lose the freedoms we now enjoy. We have and continue to spend, billions of dollars on fighting foreign wars with the hopes of protecting ourselves from terrorist attacks, but in the mist of doing this we have failed to answer the most important question of them all.. Can we afford it? We continue to let our politicians dictate to us what issues are important and which ones we should be focusing all our attention on. This has resulted in the majority of the American public,  following these leaders blinding without resistance.
China stated that "America should live within it means." Is this the crack in the wall that brings down America? It is important to note that, Osama's goal was not just too physically attack us but to cripple our economy. This is why the terrorists bombed the two towers. The trade centers were symbols of our financial strength. Our politicians are turning on each other and they have made themselves less creditable in the eyes of their constituents. Is this how democracy works?
What do you think, well America recover or will be this be the forecast for more horrible things to come? Are we on a road to becoming a Second-World nation?