1.) Obama to stay mum about America's crappy credit score -- At a town hall event in Virginia today, Pres. Obama will talk about everything debt-related except the S&P's warning that America is heading for calamity. According to Bloomberg News, "Obama aides said they don’t expect him to refer to the S&P report unless he is asked. The president will again ignore our downgraded credit score when he travels to Facebook headquarters in Palo Alto, and he will again not mention the words "standard" or "poor" when he hits up Reno, Nevada, on his "Can you help a president out?" tour. Meanwhile, the White House and its allies are busy downplaying the S&P's "negative" outlook on U.S. debt. Economist-comedian Austan Goolsbee said the warning didn't deserve "too much weight," because it was based on America's schizophrenic political climate. Paul Begala pointed to the ratings agencies' instrumental role in amputating the U.S. economy at the knee as evidence that "it’s difficult to know how much credibility S&P should be given.” Ironically, the mortgage crisis might have been averted had the S&P rated packages of subprime loans with the same honesty that its currently rating the U.S. government.