
August 5th, 2011
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| On this day in 2002, the rusty iron gun turret of the U.S.S. Monitor broke from the water and into the daylight for the first time in 140 years. The ironclad warship was raised from the floor of the Atlantic, where it had rested since it went down in a storm off Cape Hatteras, North Carolina, during the Civil War. Divers had been working for six weeks to bring it to the surface. Nine months before sinking into its watery grave, the Monitor had been part of a revolution in naval warfare. On March 9, 1862, it dueled to a standstill with the C.S.S. Virginia (originally the C.S.S. Merrimack) in one of the most famous moments in naval history–the first time two ironclads faced each other in a naval engagement. During the battle, the two ships circled one another, jockeying for position as they fired their guns. The cannon balls simply deflected off the iron ships. In the early afternoon, the Virginia pulled back to Norfolk. Neither ship was seriously damaged, but the Monitor effectively ended the short reign of terror that the Confederate ironclad had brought to the Union navy. EHHH… |
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| The Obama administration angrily responded to Standard & Poor’s decision Friday to downgrade the U.S. credit rating, with one senior official saying the agency’s “analysis was way off.” U.S. Treasury officials received S&P’s analysis Friday afternoon and alerted the agency to an error that inflated U.S. deficits by $2 trillion, said the administration official, who was not authorized to speak for attribution. The agency acknowledged the mistake, but said it was sticking with its decision to lower the U.S. rating from a top score of AAA to AA+, the official said. OBAMA = FAIL. |
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