The Daily Digest (Market meltdown means another state budget deficit?)
The turmoil in the global markets leads the Digest today. On Monday, Americans watched their stocks, 401ks and pension funds take a hit in a stock sell off blood bath.
MPR has two looks at what the downgrade could mean for Minnesota. MMB Commissioner Jim Schowalter says another budget deficit could be on the horizon for Gov. Dayton and GOP legislative leaders.
Tidbit: Another factor to watch is how big Minnesota's pension funds are hit. The State Board of Investment didn't return calls to MPR to discuss the situation.
Others worry about the cost of borrowing on the state and local level.
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Minnesota cities are bracing for higher interest rates.
The markets tanked as President Obama urged calm.
Obama called for the political will to deal with the challenges facing the nation.
Freddie Mac seeks $1.5 billion more from taxpayers.
Under the Dome
Minnesota seeks a waiver to the federal No Child Left Behind law.
Meredith Salsbery, deputy chief for DFL Rep. Tim Walz, is leaving her position to become the spokeswoman for the Met Council.
Politics in Minnesota says some GOP activists are unhappy with the Legislature.
The Accuser of 1990 gubernatorial candidate, John Grunseth, died.
Wisconsin
Recall elections will be held today for several Wisconsin state senators.
Congress
Minnesota's delegation starts reacting (slowly) to the credit downgrade.
The Star Tribune says a Minnesota man was one of the Navy Seals killed in Afghanistan over the weekend.
A court allows a torture lawsuit against former Defense Secretary Donald Rumsfeld.
The House page program will end.
DFL Rep. Collin Peterson worries the Super Committee tasked with finding $1.4 trillion in deficit savings will make big cuts to Ag.
A congressional chair subpoenas the National Labor Relations Board regarding an investigation into Boeing's decision to open a non-union factory in South Carolina to punish union workers in Seattle. GOP Rep. John Kline is mentioned.
Race for President
Texas Gov. Rick Perry is expected to announce a 2012 run on Saturday. Perry will be in the key presidential states of South Carolina and New Hampshire. Saturday is the same day as the Iowa Straw poll.
The Washington Post says Tim Pawlenty is working to pick up steam in Iowa. The paper points out a problem for Pawlenty: He needs to do well (a close second) or supporters may move to other candidates like Perry.
GOP candidates criticize President Obama over the credit rating downgrade.
The National Journal points out that Obama's approval rating is the same as Ronald Reagan's in 1983.
Politico says Obama's plan is to "destroy Romney."
Michele Bachmann leads a GOP poll in Iowa.
The New Yorker profiles Bachmann.
The National Organization for Women criticizes Newsweek for the Bachmann cover.
New Hampshire's The Union Leader editorial page rips Bachmann for her vote against the debt ceiling bill.
Tim Pawlenty launched an "Ames All-Stars" Iowa GOTV event.