All eyes are on the markets (and 401ks) today to see whether investors get skittish over S&P’s downgrade of the country’s credit rating.
Stock futures are predicting a tumble.
Asia’s markets slipped today.
AP says the economy, not the rating downgrade, are the bigger concern.
The world’s global finance leaders are taking steps to calm the markets.
Members of the Obama Administration say the S&P analysis is “way off.”
S&P officials, who have been criticized for failing to spot the problems that led to the mortgage meltdown, is defending its decision.
Congress has a shot at passing job creating bills.
Treasury Secretary Tim Geithner will remain in his job.
Thirty U.S. soldiers, many belonging to Seal Team 6, were killed in Afghanistan.
Congress took the month off after passing a bill that would raise the debt ceiling but makes $2.4 trillion in cuts over ten years. Polling suggests no one won the standoff.
The U.S. will start granting waivers to allow states to be exempted from the No Child Left Behind law. GOP Rep. John Kline says he’s concerned the efforts will undermine his plan to overhaul the law this fall.
DFL Sen. Amy Klobuchar told corn country that she’s looking to soften the blow of federal cuts to agriculture.
DFL Sen. Al Franken and DFL Rep. Collin Peterson support a bid to bring FarmFest to Detroit Lakes.
Franken has joined Bloomberg’s fight against Comcast, according to the Los Angeles Times.
Franken also headlined a Jefferson-Jackson Day dinner in West Virginia.
DFL Rep. Betty McCollum will hold a townhall forum on Tuesday night in St. Paul.
GOP Rep. Chip Cravaack will hold townhall meetings this week.
Cravaack will also meet with architects in Duluth today.
The PoliGraph says Cravaack’s claim about defense cuts is untrue.
Under the Dome
Minnesota’s shutdown added to the nation’s unemployment rate.
The budget cuts funds that help immigrant doctors to regain their profession.
Gov. Dayton wants a stadium impact study.
Outside groups are pouring money into the Wisconsin recall races.
The races are grabbing the national spotlight.
Race for President
Newsweek puts GOP Rep. Michele Bachmann on this week’s cover. The photo, with the title Queen of Rage, profiles Bachmann looking off into distance (instead of at the camera). It’s sure to spur anger among Bachmann supporters.
You can read the story here.
The candidates are ramping up their efforts in the week before Saturday’s Iowa Straw poll.
Bachmann calls for Treasury Secretary Tim Geithner to be fired.
She also said a better economy “won’t take that long” if she’s elected.
Bachmann picked up endorsements from 100 faith leaders.
Was Texas Gov. Rick Perry seeking to edge out Bachmann with his prayer rally?
Tim Pawlenty also pushed his faith during several campaign stops in Iowa.
Pawlenty signed a group’s anti-gay marriage pledge even though the campaign said he wouldn’t.
He also called Jesus his “political hero.”
CNN says Rick Perry is retreating from his tough federalist stance.