On S&P, Downgrades, and Idiots  —  This is not going to be one of those posts that laments S&P's decision to downgrade the US, but then says that S&P was probably right about our oh-so-dysfunctional political system.  —  No, S&P was flat-out wrong — no caveats.

Rick Perry to make 2012 intentions clear Saturday  —  Rick Perry intends to use a speech in South Carolina Saturday to make clear that he's running for president, POLITICO has learned.  —  According to two sources familiar with the plan, the Texas governor will remove any doubt …

LEAP OF FAITH … - POLITICS - PROFILES - THE TALK OF THE TOWN - COMMENT - THIS WEEK'S ISSUE - THE FINANCIAL PAGE - NEWS DESK - THE POLITICAL SCENE

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 …

Waiting For A Landslide  —  In 1955, a political scientist named V. O. Key published an essay entitled “A Theory of Critical Elections.”  He argued that realignments in American politics are usually punctuated by transformative elections, in which the old order suddenly gives way and a new majority emerges in its place.

Poor People Own Appliances Because They're Cheap  —  My colleagues Melissa Boteach and Donna Cooper have a great piece on the Heritage Foundation's “poor people aren't actually poor because they own cheap electronics” theory of poverty.  This infographic nicely highlights the silliness …

Obama Job Approval 50% or Higher in 16 States and D.C.  —  Idaho residents least approving, at 27%  —  PRINCETON, NJ — Residents of 16 states and the District of Columbia gave President Obama approval ratings of 50% or higher during the first half of 2011, led by the District of Columbia, Connecticut, Maryland, and Delaware.

It's a Growth Scare  —  FTalphaville has been saying this all day, and it's right.  The action in the markets looks nothing like worries about US solvency; it looks exactly like what you expect to see when markets suddenly realize that the economy's growth prospects look terrible.

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.”

The abortion that Mitt doesn't talk about anymore  —  In a 1994 Senate debate with Ted Kennedy, Mitt Romney revealed a startling chapter from his past: A close relative had died many years earlier in a botched illegal abortion, shaping Romney's stance in favor of safe and legal access to abortion for all women.

Drew Westen's Nonsense  —  There are some strong criticisms to be made of the Obama administration from the left, especially concerning Obama's passive response to the debt ceiling hostage crisis, and his frightening willingness to give away the store to John Boehner.  I've made many of these criticisms myself.

Obama's horrifyingly bad speech  —  He was a half hour late.  His head turned from side to side as if he were attending a tennis match.  He practically never looked in the camera, as if he were averting our gaze.  And those were the strong parts of President Obama's disastrous speech.

Racially motivated attack on video  —  Editor's note: The following story contains language some readers may consider offensive.  —  Jackson, Mississippi (CNN) — On a recent Sunday morning just before dawn, two carloads of white teenagers drove to Jackson, Mississippi …