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Obama: 'Spectacle' Of Last Few Weeks Damaged America's Credibility

AP Photo / Charles Dharapak

"It's encouraged our enemies, it's emboldened our competitors, and it's depressed our friends who look to us for steady leadership," he continued. "Now, the good news is we'll bounce back from this. We always do. America is the bedrock of the global economy for a reason. We are the indispensable nation that the rest of the world looks to as the safest and most reliable place to invest."