Widespread iTunes and App Store Terms and Conditions Bug Preventing New Purchases and Downloads [Update: Resolved]
Users are reporting that a widespread issue with Apple's App Store is preventing new purchases from being made. When users attempt to make a purchase or redownload a previous purchase, they are asked to agree to updated Terms & Conditions.
When they accept, they are then asked to agree to them again and again. As a result, new purchases and downloads from iTunes in the Cloud cannot be made. The issue appears to be affecting all purchases from the App Store and iTunes store on both iOS and the Mac, as well as the Mac App Store and iTunes Match. It's also affecting the viewing of purchased items on the Apple TV.

We've reached out to Apple for comment, but until the issue is resolved many iOS users will be unable to purchase apps or media content.
Update: Commenters are reporting that the issue is not affecting international accounts. Users have successfully downloaded apps with Singapore, Hong Kong and New Zealand-based accounts.
Update: The issue appears to be fixed.
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Top Rated Comments
Why does everything have to be a "-gate?"
Ping: "I'm not going out without a fight! If you're taking me down, I'm taking the whole store with me!"
Android/ winPhone is look a lot more attractive now.
Maps and this.
Still got 8 to go.
"I can't download my app!! Completely unacceptable!! Steve would have never stood for this!!"