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Govt Officials: US Expecting S&P Downgrade — Based on ‘Serious Mistake’ in Analysis* — Two government officials tell ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor's to downgrade the rating of U.S. debt from its current AAA value.
Discussion:
Marginal Revolution, Politics, Guardian, Pajamas Media, Booman Tribune, Jared Bernstein, TPMDC, The Gateway Pundit, MarketBeat, Taylor Marsh, The Lonely Conservative, HotAirPundit, Daily Kos, The Daily Caller, FT Alphaville, The Raw Story, Wonkette, Vox Popoli, The Other McCain, The Right Scoop, Capital Tonight, Gretawire and Donklephant
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Walter Brandimarte / Reuters:
United States loses AAA credit rating from S&P — (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented reversal of fortune for the world's largest economy. — S&P cut the long-term U.S. credit rating by one notch to AA-plus …
Damian Paletta / Wall Street Journal:
Math Error Fuels Fight Over Rating — A mathematical error discovered late Friday by Treasury Department officials threw into limbo, at least temporarily, plans by ratings firm Standard & Poor's to downgrade the top-notch AAA credit rating the U.S. has held for 70 years, people familiar with the matter said.
Discussion:
Crooks and Liars, The Moderate Voice, Hot Air, JammieWearingFool, Truthdig and The Big Picture
Tyler Durden / zerohedge.com/fullrss2.xml:
S&P Downgrades US To AA+, Outlook Negative - Full Text — United States of America Long-Term Rating Lowered To ‘AA+’ On Political Risks And Rising Debt Burden; Outlook Negative — We have lowered our long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating.
Discussion:
Doug Ross, Don Surber, FrumForum, Sky Dancing, Atlas Shrugs and ECHIDNE of the snakes
MarketBeat:
U.S. Debt Rating in Limbo as Treasury Finds Math Mistake by S&P in Downgrade Warning — A mathematical error discovered late Friday by Treasury Department officials has thrown into limbo — at least temporarily — plans by ratings firm Standard & Poor's to downgrade the top-notch AAA credit rating …
Discussion:
Felix Salmon, Pajamas Media and FT Alphaville
MarketBeat:
S&P Downgrades U.S. Debt Rating — Press Release — Standard & Poor's took the unprecedented step of downgrading the U.S. government's “AAA” sovereign credit rating Friday in a move that could send shock waves through global. The following is a press release from Standard & Poor's:
Discussion:
Le·gal In·sur·rec· tion, Erick's blog and The Raw Story
Politics:
S&P DOWNGRADES US AAA Rating — UPDATE: S&P's John Chambers on CNN says “It's going to take a while to get back to AAA.” — Chambers said “we think the political settings are strong, but not quite as strong as other sovereigns.” He adds that the ratings agency's decision was based on facts.
Discussion:
The Political Carnival, Patterico's Pontifications and Daily Kos
Washington Post:
S&P downgrades U.S. credit rating for first time — Standard & Poor's announced Friday night that it has downgraded the United States credit rating for the first time, dealing a huge symbolic blow to the world's economic superpower in what was a sharply worded critique of the American political system.
Discussion:
FT Alphaville, And So it Goes in Shreveport, Hit & Run, Scared Monkeys, Weasel Zippers, Conservatives4Palin and AmSpecBlog
Paul Krugman:
S&P and the USA — OK, so Standard and Poors has gone ahead with the threatened downgrade. It's a strange situation. — On one hand, there is a case to be made that the madness of the right has made America a fundamentally unsound nation. And yes, it is the madness of the right …
Discussion:
Hullabaloo
The Politico:
U.S. credit rating downgraded — Standard and Poor's on Friday downgraded the nation's top-notch triple-A credit rating, the first downgrade in U.S. history and a dramatic vote of no-confidence in the world's largest economy and its political leadership. — “We have lowered …
Kate Kelly / CNBC:
US Braces for Possible S&P Downgrade: Source — U.S. government officials are bracing for the rating agency Standard & Poor's to downgrade the country's credit as early as this evening or take other possible action, according to someone familiar with the matter.
Discussion:
CNN, Outside the Beltway, Politics and Questions and Observations
Daniel Indiviglio / The Atlantic Online:
Report: S&P Preparing to Downgrade the U.S.—But Why? — The rating agency has some reasonable rationale for cutting the rating, but could politics really cause the nation to default? — After a mildly encouraging employment report, Washington's politics might manage to derail the U.S. economy anyway.
Discussion:
Viking Pundit
Steve Goldstein / MarketWatch:
U.S. triple-A debt rating cut by Standard & Poor's
Discussion:
Alan Colmes' Liberaland and Daily Pundit
Megan McArdle / The Atlantic Online:
US Faces Ratings Downgrade from S&P
Discussion:
Balloon Juice and ThinkProgress
Jason Cherkis / The Huffington Post:
Rick Perry's College Transcript: A Lot Of Cs and Ds … WASHINGTON — As governor of Texas, Rick Perry has pursued a controversial agenda that would gut Texas' vaunted public university system in favor of something that more closely resembles a business. — As the Washington Post reported on Thursday …
Discussion:
neo-neocon, The Atlantic Online, Hot Air, Swampland, Le·gal In·sur·rec· tion, New York Magazine, Politics, TPMDC, Iowa Caucuses, Ben Smith's Blog, Hullabaloo, Gawker and ThinkProgress
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The Note:
Rick Perry's Religious Event Mired in Controversy
Discussion:
CNN, ThinkProgress and The Daily Caller
Leary / nation.foxnews.com:
Obama's Hip-Hop BBQ Didn't Create Jobs — POLITICO EXCLUSIVE — The President's private 50th birthday bash, not listed on his public schedule: His gift to the press corps was a travel/photo lid shortly after 4 p.m., prompting what pooler Julie Mason called “general cheering in WH workspace.”
RELATED:
Media Matters / Media Matters for America:
Fox Nation: Obama's Hip-Hop BBQ Didn't Create Jobs
Discussion:
Crooks and Liars
Eddie Gehman Kohan / Obama Foodorama:
All The Details: Inside President Obama's 50th Birthday Party At The White House
Discussion:
Top of the Ticket, Wizbang, Hot Air, The Lonely Conservative, The Note, Pundit & Pundette and Lynn Sweet
Tanya Somanader / ThinkProgress:
Fox Nation Reports On Obama's Birthday: 'Obama's Hip-Hop BBQ Didn't Create Jobs'
Discussion:
Washington Post and Washington Monthly
Greg Sargent / Washington Post:
The Incredible Shrinking Tea Party — If there's one thing the debt ceiling battle revealed, it's that the Tea Party continues to enjoy outsized influence in Washington in general and over the GOP in particular. — So it's interesting to note that according to the internals of today's New York Times poll …
Discussion:
Crooks and Liars, Hullabaloo, Outside the Beltway, Alan Colmes' Liberaland, Daily Kos and Washington Monthly
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Local News:
Click on the video link to see raw video of police and sheriff's deputies investigating the scene. — Did you witness the attacks outside State Fair, or were you attacked? Were you hurt? E-mail us your story! — WEST ALLIS - Witnesses tell Newsradio 620 WTMJ and TODAY'S TMJ4 of a mob …
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Ta-Nehisi Coates / The Atlantic Online:
A Modest Proposal — Reading this... And thinking back on this, by the same writer... It occurs to me that we really need a world with more murders, more failing schools, more grocery stores with rotting vegetables, more bodegas with old milk, more teen-pregnancy, more homeless, more crack …
RELATED:
Sam Roberts / New York Times:
Striking Change in Bedford-Stuyvesant as the White Population Soars
Discussion:
Gothamist
Greg Sargent / Washington Post:
Why Democrats are very nervous about Wisconsin — Publicly, Democrats are projecting great confidence about the likelihood of taking back the Wisconsin state senate in the upcoming recall elections. They claim their private polling shows them ahead or tied in all six races targeting GOPers for recall …
Discussion:
Mother Jones, MoJo Articles, Daily Kos and The Mahablog
Ed Morrissey / Hot Air:
Video: They're still not listening to Rick Santelli — Want to see a microcosm of everything that's been wrong with American economic policy over the last couple of years? Watch this exchange between Ezra Klein and Rick Santelli from earlier today on MSNBC's Morning Joe.
Discussion:
NewsBusters.org, Pajamas Media, American Power and Verum Serum
RealClearPolitics Video Log:
John Kerry: Media Has “Responsibility” To “Not Give Equal Time” To Tea Party — Sen. John Kerry (D-MA) told MSNBC's “Morning Joe” on Friday that the media has the responsibility to not give equal time or credence to the Tea Party's views: SEN. JOHN KERRY: “And I have to tell you, I say this to you politely.
Matthew Yglesias / ThinkProgress:
Boehner's Folly Leads To S&P Downgrade of US Debt — I'm no expert, but I don't think S&P downgrading its rating of US debt will, as such, have any really big practical implications other than becoming the next political football. If you look at S&P's definition of the AA rating, after all …
Discussion:
Mother Jones
Rasmussen Reports:
54% Think Obama's Reelection At Least Somewhat Likely — Most voters think President Obama has a good shot at being reelected next year, even if he continues to pursue tax increases as part of any future deficit reduction plan. — Fifty-four percent (54%) of Likely U.S. Voters feel …
Discussion:
Daily Pundit
Valerie Jarrett / The Huffington Post:
Why I'm Proud to Be Part of President Obama's Team — Twenty years ago last month, I met a remarkable young man named Barack Obama. Since then, I've been honored to join him along his journey, from the Illinois State Senate all the way to the Oval Office.
Julie Mason / Reuters:
White House has new talking points — Austan Goolsbee: Jobs! Bickering! Brrrains!!!!! — If only Congress would pass patent reform! The White House has found the guilty parties behind that dismal June jobs report — and they include failure to act on trade deals and that old Washington bugaboo: bickering.
Discussion:
Firedoglake and The Huffington Post
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