Jim Cramer on "Meet the Press": "We were all hopeful in Wall Street and in Main Street that the president would come out and say a few things which had compromise. He came out and panicked the heck out of us. He talked about the higher interest rates for mortgages, he talked to spiking credit cards, he talked about how hard it's going to be to get a student loan. It took us all aback because we felt that he'd be a compromise leader. Instead, he created tremendous fear. Tremendous fear means uncertainty. Uncertainty means no spending. Uncertainty means no spending by businesses. It means no hiring. It was a setback. He caused the panic, not the media."
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