Coming Up on 'This Week': Governor Martin O'Malley and Senator Jeff Sessions, S&P Managing Director John Chambers

WASHINGTON, August 5, 2011— -- The latest jobs report shows modest growth, bringing some relief after global economic fears caused the largest one-day drop in the stock market in more than two years. But the economic picture remains mixed, as the bond rating agency Standard & Poor's downgrades U.S. debt for the first time, citing pessimism on "difficulties in bridging the gulf between the political parties over fiscal policy."

Why did the rating agency make its decision, and what impact will it have? Sunday on "This Week," Christiane Amanpour speaks with Standard & Poor's Managing Director John Chambers, who serves as chair of S&P's Sovereign Rating Committee.

As Congress leaves Washington following the conclusion of the debt ceiling debate, what can be done to improve the economic outlook going forward? Christiane speaks with Maryland Governor Martin O'Malley, chair of the Democratic Governors Association, and Senator Jeff Sessions (R-AL), ranking member of the Senate Budget Committee.

The "This Week" roundtable debates the resolution of the debt ceiling battle, the S&P downgrade, and the continuing struggle to create jobs for Americans out of work. Will the final budget agreement make any lasting impact on reducing long-term deficits? Can the soon-to-be-formed "super-committee" make the hard decisions needed to cut spending and increase revenues? And can anything be done by Washington to speed job creation and avoid a double-dip recession?

Christiane is joined on the roundtable by ABC's George Will and Cokie Roberts, as well as Steve Rattner, former Counselor to the Treasury Secretary and Lead Auto Advisor, Tea Party member Rep. Jason Chaffetz (R-UT), who voted against this week's debt ceiling increase, and Ariel Investment president Mellody Hobson.

Then, U.S. Ambassador to Syria Robert Ford has condemned the brutal Syrian military crackdown against a civilian uprising in the city of Hama, calling the violence there "grotesque" and "abhorrent." As international condemnation grows, what can the United States do to ratchet up pressure on Syrian President Bashar al-Assad and his regime? An exclusive interview with Ambassador Robert Ford, only on "This Week."