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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.
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TPMDC, The Gateway Pundit, The Agonist, PoliticusUSA, Politics, Guardian, Booman Tribune, Taylor Marsh, Daily Kos, Pajamas Media, The Lonely Conservative, Vox Popoli, HotAirPundit, The Raw Story, Wonkette, The Other McCain, Jared Bernstein, MarketBeat, THE ASTUTE BLOGGERS, FT Alphaville, 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:
DISSENTING JUSTICE, JammieWearingFool, Riehl World View, Crooks and Liars, The Moderate Voice, Truthdig, Hot Air and Tim Blair
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:
HousingWire, Hullabaloo and Guardian
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.
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, NO QUARTER, Free exchange, The Gateway Pundit, The Daily Caller, Erick's blog and The Raw Story
standardandpoors.com:
United States of America Long-Term Rating Lowered To ‘AA+’ Due To Political Risks, Rising Debt Burden; Outlook Negative … TORONTO (Standard & Poor's) Aug. 5, 2011—Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’.
Discussion:
Libertarian Republican, The Gateway Pundit, DealBook and NewsBusters.org
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:
Sky Dancing, FrumForum, Doug Ross, Don Surber, Pajamas Media, Atlas Shrugs and ECHIDNE of the snakes
John Detrixhe / Bloomberg:
S&P Cuts U.S. Rating for First Time on Deficit Reduction Pact — The U.S. had its AAA credit rating downgraded for the first time by Standard & Poor's, which slammed the nation's political process and said lawmakers failed to cut spending enough to reduce record deficits.
Discussion:
naked capitalism, Discourse.net, The New Civil Rights Movement, Gothamist, The Huffington Post and Pajamas Media
New York Times:
S.& P. Cuts U.S. Debt Rating for First Time — WASHINGTON — Standard & Poor's removed the United States government from its list of risk-free borrowers for the first time on Friday night, a downgrade that is freighted with symbolic significance but carries few clear financial implications.
Discussion:
Wall Street Journal, Guardian and Online NewsHour
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:
HotAirPundit
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:
Firedoglake, Pajamas Media and FT Alphaville
Jamie Klatell / The Hill:
Reid: S&P downgrade backs Dems' call for more revenue — Standard & Poor's decision to downgrade the nation's credit rating reinforces Democrats' call for increasing tax revenue, Senate Majority Leader Harry Reid (D-Nev.) said Friday. — In a statement, Reid said:
Discussion:
Weasel Zippers and JammieWearingFool
Tyler Cowen / Marginal Revolution:
A few quick thoughts on the likely pending S&P downgrade
A few quick thoughts on the likely pending S&P downgrade
Discussion:
MarketBeat
Steve Goldstein / MarketWatch:
U.S. triple-A debt rating cut by Standard & Poor's
Daniel Indiviglio / The Atlantic Online:
Report: S&P Preparing to Downgrade the U.S.—But Why?
Report: S&P Preparing to Downgrade the U.S.—But Why?
Discussion:
Viking Pundit
Felix Salmon:
Why the S&P downgrade was delayed
Why the S&P downgrade was delayed
Discussion:
Mother Jones, Daniel W. Drezner and Balloon Juice
CNNMoney.com:
S&P downgrades U.S. credit rating
S&P downgrades U.S. credit rating
Discussion:
CNN, The Hill and Alan Colmes' Liberaland
Megan McArdle / The Atlantic Online:
US Faces Ratings Downgrade from S&P
US Faces Ratings Downgrade from S&P
Discussion:
Jared Bernstein, Politics and Balloon Juice
Politics:
S&P DOWNGRADES US AAA Rating
S&P DOWNGRADES US AAA Rating
Discussion:
FOXBusiness.com, The Political Carnival, Patterico's Pontifications and Daily Kos
Ezra Klein / Washington Post:
Five thoughts on the potential S&P downgrade
Five thoughts on the potential S&P downgrade
Discussion:
Hullabaloo and Crooks and Liars
Kate Kelly / CNBC:
US Braces for Possible S&P Downgrade: Source
US Braces for Possible S&P Downgrade: Source
Discussion:
Outside the Beltway, CNN and Questions and Observations
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 …
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The Note:
Rick Perry's Religious Event Mired in Controversy
Rick Perry's Religious Event Mired in Controversy
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CNN, LifeNews.com, The Politico, The Daily Caller and ThinkProgress
William A. Jacobson / Le·gal In·sur·rec· tion:
We'll take the jobs and economic growth, you keep the credentials
We'll take the jobs and economic growth, you keep the credentials
Discussion:
ProfessorBainbridge.com and Swampland
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:
Outside the Beltway, Hullabaloo, Crooks and Liars, Alan Colmes' Liberaland and Daily Kos
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 …
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Roll Call, Mother Jones, Daily Kos and MoJo Articles