Nice job, Barack.

(CNS News) — John Chambers, managing director of Standard & Poor’s, says politics played a part in S&P’s decision to lower the nation’s credit rating for the first time in U.S. history.

“Although the political settings in the United States are still strong, they are not as strong as we had thought previously compared to some other highly rated governments,” Chambers told Fox & Friends on Monday.

“There really is, well, as President Obama — who characterized the political system as ‘dysfunctional’ — I think that’s a good word. We got to a position where we were within ten hours of having a major cash flow problem. This is not what happens in other countries.”

As for Democrats’ accusations that the tea party bears responsibility for the downgrade, Chambers said there is “lots of blame to go around.”