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11:50 AM ET, August 7, 2011

memeorandum

 Top Items: 
Seung Min Kim / The Politico:
S&P rating: ‘Outrageous’, ‘nothing good to say’  —  Outrage over Standard & Poor's downgrade of the United States' credit rating extended to both sides of the political aisle on Sunday.  —  Steve Forbes, CEO of Forbes Inc. and a former Republican presidential contender …
Discussion: ThinkProgress
RELATED:
Edmund L. Andrews / NationalJournal.com:
Why S&P's Downgrade is No Joke  —  The real impact of S&P's downgrade is political, not economic.  —  It's tempting to dismiss Standard & Poor's downgrade of U.S. long-term Treasury bonds as no big deal in the real world.  It's also tempting to describe it as a broad criticism …
Discussion: Washington Monthly
Steve Benen / Washington Monthly:
A timeline of events  —  Let's take a stroll down memory lane, shall we?  —  1980: Ronald Reagan runs for president, promising a balanced budget  —  1981 - 1989: With support from congressional Republicans, Reagan runs enormous deficits, adds $2 trillion to the debt.
New York Times:
Anger Over Credit Rating Resurfaces in Washington  —  The frustration in the air was palpable.  Officials from the credit ratings agency Standard & Poor's were meeting with Congressional leaders on a stifling late day in late July to discuss the thorniest issue in Washington …
New York Times:
Amid Criticism on Downgrade of U.S., S.&P. Fires Back  —  A day after Standard & Poor's took the unprecedented step of downgrading the creditworthiness of the United States government, the ratings agency offered a full-throated defense of its decision, calling the bitter stand-off between President Obama …
Drew Westen / New York Times:
What Happened to Obama?  —  Drew Westen is a professor of psychology at Emory University and the author of “The Political Brain: The Role of Emotion in Deciding the Fate of the Nation.”  —  Atlanta  —  IT was a blustery day in Washington on Jan. 20, 2009, as it often seems to be on the day of a presidential inauguration.
Discussion: Connecting.the.Dots and Corrente
Janet Daley / Telegraph:
If we are to survive the looming catastrophe, we need to face the truth  —  The idea that a capitalist economy can support a socialist welfare state is collapsing before our eyes, says Janet Daley.  —  Getting it right: the Tea Party recognised where America's policies were heading
Discussion: National Review
The Daily Beast:
Tea Party's Next Targets  —  Blocking judges and federal appointees and even killing the gas tax might be next for the band of ragtag obstructionist rebels known as the Tea Party.  —  As the nation sweated the very real possibility that America would default on its debt …
RELATED:
Alexander Bolton / The Hill:
Obama's soft response to Tea Party draws liberal criticism
Washington Post:
Origins of the debt showdown  —  This article was reported by Lori Montgomery, Paul Kane, Brady Dennis, Alec MacGillis, David Fahrenthold, Rosalind Helderman, Felicia Sonmez and Dan Balz.  It was written by Dennis, MacGillis and Montgomery.  —  In mid-January, newly installed …
Mark Tapscott / Washington Examiner:
Wisconsin Democratic Party flak threatens to sic union bullies on independent news group  —  A spokesman for the Wisconsin Democratic Party has threatened to sic union bullies on an independent news organization whose reporting he thinks is “biased.”  —  Graeme Zeilinski was upset …
BBC:
London riots: Dozens injured after Tottenham violence  —  Clasford Stirling, a resident of Tottenham for 32 years, said the area looked like a battlefield  —  More than 40 people have been arrested after rioting saw police attacked, buildings looted and vehicles set alight in Tottenham, north London.
Washington Examiner:
Obama won't escape blame for credit downgrade  —  Standard and Poor's explanation for why it downgraded U.S. debt is written in such a way that it can be seized upon by all ideological stripes.  The statement cites the unwillingness of Republicans to raise taxes and of Democrats to agree to entitlement cuts.
Discussion: Hot Air and The Impolitic
GetEQUAL.org:
Protesters Travel From Across Texas to Picket Hate-Based Event  —  FOR IMMEDIATE RELEASE  —  Michael Diviesti, GetEQUAL Texas State Lead Organizer, (512) 694-3394, michael@getequaltx.org  —  HOUSTON, TX — On August 6th, Governor Perry spoke at an event inside Reliant Stadium in Houston …
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Rasmussen Reports:
67% Say Economy Causing Family Stress
Discussion: Scared Monkeys and Weasel Zippers
 Earlier Items: 
New York Times:
Shabab Concede Control of Capital to Somalia Government
Kurt Andersen / New York Times:
The Madman Theory  —  I had breakfast this week with one of Hollywood's …
Alexander Bolton / Ballot Box:
Mystery Romney backer reveals himself
 

 
From Mediagazer:

Katie Robertson / New York Times:
G/O Media sells The Onion to Global Tetrahedron, a new Chicago firm owned by former Twilio CEO Jeff Lawson; former NBC News senior reporter Ben Collins is CEO

The New York Times Company:
The New York Times says it will continue to cover Biden “fully and fairly” regardless of whether he gives the paper a sit-down interview

Alex Sherman / CNBC:
Sources: Paramount and Skydance move closer to a deal, but Paramount's renewal agreement with Charter, which has an April 30 deadline, is a significant hurdle
 
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