The economy isn't doing well, but S&P said Friday it was downgrading U.S. debt because of politics, that there's such a gap between the parties, it throws into serious doubt the government's ability to govern responsibly. But where's the gap?
Now that partisan politics has rendered the government unable to function, only one player in Washington has the power to affect the economy: the Federal Reserve
How Europe is dealing with the U.S. downgrade news, in light of its own debt problems, and the latest on China's reactions as the largest foreign holder of U.S. debt
New York bureau chief Heidi Moore discusses what S&P's downgrade was really about and how we are going to get substantive economic help out of what's going on
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