Top Items:
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:
Washington Monthly, Weasel Zippers, Politics, Guardian, HousingWire, The Mahablog, Hullabaloo and Suburban Guerrilla
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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.
Ezra Klein / Washington Post:
Standard & Poor's has been wrong before. But they're right now. — Standard Poor's decision to downgrade the United States has led to a lot of criticism of Standard Poor's. The White House called their performance, which included a miscalculation of about $2 trillion, “amateur hour.”
Discussion:
Washington Monthly and The Reality-Based Community
New York Times:
S.&P. Downgrades Debt Rating of U.S. For the 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:
Washington Monthly, UrbanGrounds, NewsBusters.org, Washington Post, Gawker, Runnin' Scared, Swampland, Mogulite, Online NewsHour and New York Magazine
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’.
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 …
Discussion:
Hot Air, Firedoglake, UPI, Dow Jones Newswires, ThinkProgress, Pajamas Media, Conservatives4Palin, CBS News, Outside the Beltway, The Reality-Based Community, National Review, The Moderate Voice, Daily Kos, blogs.abcnews.com, TalkLeft, The Agonist, Hugh Hewitt's TownHall Blog and The Right Scoop
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, Free exchange, NO QUARTER, Prairie Weather, The Gateway Pundit, RedState and The Raw Story
Political Punch:
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:
ABCNEWS, PoliticusUSA, Politics, The Agonist, MarketBeat, TPMDC, Guardian, THE ASTUTE BLOGGERS, The Gateway Pundit, Don Surber, The Political Carnival, Outside the Beltway, Marginal Revolution, Daily Kos, Booman Tribune, Viking Pundit, Wonkette, Taylor Marsh, The Raw Story, The Lonely Conservative, The Other McCain, CNBC, Pajamas Media, HotAirPundit, Vox Popoli, Questions and Observations, Jared Bernstein, Hot Air, FT Alphaville, Gretawire, The Right Scoop, Capital Tonight, Patterico's Pontifications and Donklephant
Wall Street Journal:
S&P Strips U.S. of Top Credit Rating — Unprecedented Downgrade Comes After Last-Minute Standoff; Treasury Says Decision Is ‘Flawed by a $2 Trillion Error’ — A cornerstone of the global financial system was shaken Friday when officials at ratings firm Standard & Poor's said U.S. Treasury debt …
Robert Reich:
Why S&P Has No Business Downgrading the U.S.
Why S&P Has No Business Downgrading the U.S.
Discussion:
Bark Bark Woof Woof and Balloon Juice
Kevinliptak / CNN:
TRENDING: GOP candidates slam Obama after downgrade
TRENDING: GOP candidates slam Obama after downgrade
Discussion:
The Politico and Towleroad News #gay
Matthew Yglesias / ThinkProgress:
Boehner's Folly Leads To S&P Downgrade of US Debt
Boehner's Folly Leads To S&P Downgrade of US Debt
Discussion:
Alan Colmes' Liberaland and HotAirPundit
John Detrixhe / Bloomberg:
S&P Cuts U.S. Rating for First Time on Deficit Reduction Pact
S&P Cuts U.S. Rating for First Time on Deficit Reduction Pact
Discussion:
naked capitalism, Wizbang, Discourse.net, The New Civil Rights Movement, Gothamist, The Huffington Post and Pajamas Media
Jamie Klatell / The Hill:
Reid: S&P downgrade backs Dems' call for more revenue
Reid: S&P downgrade backs Dems' call for more revenue
Discussion:
Michelle Malkin, Weasel Zippers and JammieWearingFool
Felix Salmon:
Why the S&P downgrade was delayed
Why the S&P downgrade was delayed
Discussion:
Daniel W. Drezner, Mother Jones, Balloon Juice, FT Alphaville and Politics
Tyler Durden / zerohedge.com/fullrss2.xml:
S&P Downgrades US To AA+, Outlook Negative - Full Text
S&P Downgrades US To AA+, Outlook Negative - Full Text
Discussion:
Doug Ross, FrumForum, Sky Dancing, Hot Air, Atlas Shrugs, Pajamas Media and ECHIDNE of the snakes
Ezra Klein / Washington Post:
Five thoughts on the potential S&P downgrade
Five thoughts on the potential S&P downgrade
Discussion:
Hullabaloo, Crooks and Liars and The Atlantic Online
New York Times:
Dozens of U.S. Troops Killed as Copter Shot Down in Afghanistan — KABUL, Afghanistan — Insurgents shot down a NATO Chinook helicopter during an overnight operation in eastern Afghanistan, killing at least 37 people on board, a coalition military official said on Saturday.
Discussion:
Atlas Shrugs, The Moderate Voice, Hot Air, msnbc.com, The Gateway Pundit, Politics, emptywheel, The Agonist and americanthinker.com
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Solomon Moore / Associated Press:
31 Americans, 7 Afghans killed in helicopter crash
31 Americans, 7 Afghans killed in helicopter crash
Discussion:
The Jawa Report, Wizbang and Weasel Zippers
Martha Raddatz / ABCNEWS:
31 Americans Killed Including 25 SEALs in Helicopter Crash in Afghanistan
31 Americans Killed Including 25 SEALs in Helicopter Crash in Afghanistan
Discussion:
Gawker
Kevin Sieff / Washington Post:
NATO copter shot down; dozens of U.S. troops killed
NATO copter shot down; dozens of U.S. troops killed
Discussion:
BBC, Guardian, Outside the Beltway and HotAirPundit
Joe Nocera / New York Times:
The Tea Party, Take Two — In the four months since I began writing an Op-Ed column, the thing that has most surprised me is how darned liberal I sound sometimes. I know that seems like a strange thing to say, so let me explain. — Growing up in heavily Democratic Providence, R.I. …
Discussion:
NewsBusters.org, JammieWearingFool, Daily Kos and Wake up America
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Greg Sargent / Washington Post:
The Incredible Shrinking Tea Party
The Incredible Shrinking Tea Party
Discussion:
Prairie Weather, Outside the Beltway, Hullabaloo, Crooks and Liars, Alan Colmes' Liberaland and Daily Kos
Reuters:
China tells U.S. “good old days” of borrowing are over — (Reuters) - China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the “good old days” of borrowing were over. — Standard & Poor's cut the U.S. long-term credit rating …
Discussion:
BBC, The Moderate Voice, Sydney Morning Herald, americanthinker.com and The Political Carnival
William A. Jacobson / Le·gal In·sur·rec· tion:
Widener Law School goes Soviet, demands law professor undergo psychiatric evaluation — Lawrence Connell is a tenured law professor at Widener Law School in Delaware. I have noted in prior posts that Connell was accused of a wide range of racist and sexist conduct directed at students …
Discussion:
The Volokh Conspiracy
Joseph Rago / Wall Street Journal:
Obama and the Narcissism of Big Differences — ‘He becomes visibly agitated. . . . He does not like to be challenged on policy grounds,’ says the House majority leader of the president. — New York — Whatever the rhetoric that preceded this week's deal, the debt-ceiling debate was never really about the debt at all.
Discussion:
Power Line, Hot Air and PoliPundit.com
Michael O'Brien / Ballot Box:
Perry's prayer gathering sets stage for national attention — Texas Gov. Rick Perry's (R) high-profile prayer gathering Saturday is set to pave the way for his possible but increasingly likely late entry into the race for the Republican presidential nomination.
Discussion:
The Note
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