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12:30 PM ET, August 8, 2011

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Paul Krugman / New York Times:
Credibility, Chutzpah And Debt  —  To understand the furor over the decision by Standard & Poor's, the rating agency, to downgrade U.S. government debt, you have to hold in your mind two seemingly (but not actually) contradictory ideas.  The first is that America is indeed no longer the stable, reliable country it once was.
Andy Kroll / Mother Jones:
VIDEO: Tea Partiers Cheer the Downgrade of America's Credit Rating  —  Is the tea party happy that Standard and Poor's, the credit rating agency, downgraded the United States' credit rating for the first time ever?  —  You'd think that was the case if you were in the crowd at a tea party rally …
David Dayen / Firedoglake:
S&P's History of Relentless Political Advocacy
Discussion: CNNMoney.com and Associated Press
Zeke Faux / Bloomberg:
S&P Seen Surrendering to Tea Party Costing U.S. Taxpayer
Discussion: The Note and The Huffington Post
Ryan Lizza / New Yorker:
LEAP OF FAITH … - POLITICS - PROFILES - THE TALK OF THE TOWN - COMMENT - THIS WEEK'S ISSUE - THE FINANCIAL PAGE - NEWS DESK - THE POLITICAL SCENE
Michelle Malkin:
The Conservative Crazy Eyes Cliche & Other Stupid MSM Photo Tricks  —  Sigh.  Seriously, Tina Brown?  —  Yes, I'm talking about you, Oxford University-educated Newsweek/Daily Beast editor Tina Brown.  —  You've resorted to recycling bottom-of-the-barrel moonbat photo cliches …
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Alexander Bolton / The Hill:
Markets open low as White House pushes back on S&P downgrade  —  Washington's lawmakers and policymakers anxiously watched the open of financial markets in Asia, Europe and New York Monday to determine the impact of the nation losing its AAA credit rating.  —  The downgrade of the nation's …
Discussion: The Hill and The Reaction
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Patrick Allen / CNBC:
No Chance of Default, US Can Print Money: Greenspan  —  Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating.  —  “The United States can pay any debt it has because we can always print money to do that.
Paul Krugman:
A Self-Fulfilling Euro Crisis?  (Wonkish)  —  There will probably be big action in the euro zone tomorrow; so, some quick analytical notes.  —  The big question, I believe, is whether the Italian and maybe Spanish crises are the kind of thing that might be brought under control by ECB bond purchases.
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Financial Times:
ECB buys up Italian and Spanish debt
Rasmussen Reports:
Iowa Caucus: Bachmann, Romney and Paul on Top  —  In the Iowa caucus race for the Republican presidential nomination, five candidates are in double digits, and many voters are open to changing their mind before caucus day arrives.  —  The first Rasmussen Reports telephone survey …
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Rasmussen Reports:
29% Say Tea Party Members Are Terrorists, 55% Disagree
Jennifer Epstein / Reuters:
Exclusive: S&P's flub-filled draft press release  —  Ahead of its downgrade of the U.S.'s AAA rating Friday night, Standard & Poor's sent a draft press release - obtained by POLITICO - to the Treasury Department that afternoon that included several numerical errors, setting off a heated …
Discussion: New York Times, Daily Kos and Politics
RELATED:
Daniel Strauss / The Hill:
Rep. West: Geithner ‘should move on’ from Treasury job
Discussion: The Politico and Weasel Zippers
Abby Phillip / The Politico:
Duncan to issue ‘No Child’ waivers  —  Seeing “no clear path” toward reauthorizing the “No Child Left Behind” education law, the Obama administration will unilaterally issue waivers to states, exempting them from some of the law's regulations.  —  “Today we're less than a month from the start …
Discussion: New York Magazine
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Daily Mail:
Explosive Jackie O tapes ‘reveal how she believed Johnson killed JFK and had affair with movie star’  —  Jackie Onassis believed that Lyndon B Johnson and a cabal of Texas tycoons were involved in the assassination of her husband John F Kennedy, ‘explosive’ recordings are set to reveal.
Aaron Blake / Washington Post:
Perry team raising money, supporter says announcement next week  —  Texas Gov. Rick Perry speaks at The Response, a call to prayer for a nation in crisis, Saturday, Aug. 6, 2011, in Houston..  (AP Photo/David J. Phillip) (David J. Phillip - AP) Texas Gov. Rick Perry (R) …
Kevin Diaz / Minneapolis Star Tribune:
Pawlenty changes his approach on health care  —  He favored exchanges and was ‘open to’ mandates.  Then he ran for president.  —  WASHINGTON - In his presidential campaign autobiography, “Courage to Stand,” former Minnesota Gov. Tim Pawlenty recalls a man in a wheelchair who approached him at an airport in Mankato.
David Catanese / The Politico:
Wis. Dem memo: Victory predictions “dangerous”  —  MADISON Wis. — Democrats on the ground here are increasingly confident they will pick-up two state Senate seats, but are warning that winning the third necessary for a takeover is a tenuous prospect.  —  Despite hype from some in the party apparatus …
Discussion: Althouse and National Review
John R. Bolton / Human Events:
On Deck: Why I May Run for President  —  Adam Smith wrote in The Wealth of Nations that “the first duty of the sovereign, that of protecting the society from the violence and invasion of other independent societies, can be performed only by means of a military force.”
Scott Adams / Wall Street Journal:
The Heady Thrill of Having Nothing to Do  —  Is constant stimulation hurting our creativity—and the economy?  Scott Adams pays tribute to tedium  —  We've won the war on boredom!  If you have a smartphone in your pocket, a game console in the living room, a Kindle in your backpack …
Discussion: Pajamas Media
 
 
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 More Items: 
Walter Russell Mead / Via Meadia:
American Tinderbox  —  For some time now, residents of some US cities …
Stuart Taylor Jr / The Atlantic Online:
Drop the DSK Charges
Discussion: Feministing
Sheryl Gay Stolberg / New York Times:
Huntsman Runs on His Name, and His Father's
Discussion: Ben Smith's Blog
Matthew Kalman / Daily Mail:
Families of suicide bombers given £5m in British aid cash
Washington Post:
When historic preservation interferes with modern preferences
Discussion: The Atlantic Online and Hit & Run
Robert McMillan / Computerworld:
AntiSec hackers dump data after hacking police websites
Telegraph:
Tottenham riots: police let gangs run riot and loot
Discussion: The Atlantic Online
 Earlier Items: 
McClatchy Washington Bureau:
In valley where SEALs died, U.S. raids boost Taliban support
Discussion: Prairie Weather
New York Times:
Palestinians and the U.N.
Discussion: Israel Matzav and Pajamas Media
Adam Clymer / New York Times:
Mark O. Hatfield, Republican Champion of Liberal Causes, Dies at 89
Catherine Rampell / New York Times:
Second Recession in U.S. Could Be Worse Than First
Discussion: The Raw Story
 

 
From Mediagazer:

Todd Spangler / Variety:
Netflix plans to stop reporting subscriber numbers and Average Revenue per Membership from Q1 2025, as time spent is its “best proxy for customer satisfaction”

Ruth La Ferla / New York Times:
Graydon Carter opens a physical store called Air Mail Newsstand in NYC, as an extension of his digital newsletter Air Mail, selling books, magazines, and more

New York Times:
Sources: Sony Pictures Entertainment and Apollo discussed a joint all-cash offer for Paramount, which is still in an exclusive negotiation window with Skydance
 
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