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11:15 AM ET, July 15, 2011

memeorandum

 Top Items: 
Paul Krugman / New York Times:
Getting to Crazy  —  There aren't many positive aspects to the looming possibility of a U.S. debt default.  But there has been, I have to admit, an element of comic relief — of the black-humor variety — in the spectacle of so many people who have been in denial suddenly waking up and smelling the crazy.
RELATED:
Wall Street Journal:
Plan B Emerges on Debt  —  Sens. Reid, McConnell Quietly Discuss Way to Keep Government From Default  —  A backup plan to cut the federal deficit and keep the U.S. government from default gained momentum Thursday on Capitol Hill as President Barack Obama and congressional leaders took a break …
Jennifer Bendery / The Huffington Post:
GOP Senator: Maybe We Shouldn't Have Tied Debt Vote To Deficit Deal (VIDEO) … WASHINGTON — Some Republicans are starting to have buyer's remorse over their party's insistence that a vote to raise the debt limit be tied to a long-term deficit reduction package.
Wall Street Journal:
The Obama Downgrade  —  The real reason the U.S. could lose its AAA rating.  —  So the credit-rating agencies that helped to create the financial crisis that led to a deep recession are now warning that the U.S. could lose the AAA rating it has had since 1917.
Megan McArdle / The Atlantic Online:
Go Ahead, GOP, Make Obama's Day  —  So how can the GOP get something it wants out of the sodden mess of our debt negotiations?  Here's my answer: pass a short-term debt-ceiling increase.  It seems pretty clear to me that there's no time or common ground for a grand bargain before August 2nd, so pass a short-term increase.
Discussion: Instapundit
Steve Benen / Washington Monthly:
GOP rejects trading one tax cut for another  —  Last week, Democrats in debt-reduction talks focused much of their attention on unnecessary and unpopular tax giveaways.  If Republicans want a compromise that cuts the debt without raising tax rates, Dems said, they can start by scrapping tax expenditures that help corporate-jet owners.
The Hill:
GOP leaders embrace ‘cut, cap and balance’ plan as debt solution
Charles Krauthammer / Washington Post:
Call Obama's bluff
Molly K. Hooper / The Hill:
House GOP plans meeting to discuss faltering negotiations over debt deal
Discussion: The Politico
John Bingham / Telegraph:
Phone Hacking: Rupert Murdoch's daughter in ‘furious’ attack on Rebekah Brooks  —  Rupert Murdoch's daughter Elisabeth has made a “furious” attack on Rebekah Brooks's handling of the phone hacking scandal at News International, The Daily Telegraph has learnt.  —  Elisabeth Murdoch, daughter of Rupert
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BBC:
Phone hacking: News International chief Brooks quits  —  Media analyst Steve Hewlett: ‘News International appears to be on the run’  —  Rebekah Brooks, chief executive of News International, has resigned, the company has confirmed.  —  Her departure follows days of increasing pressure to step down as the phone hacking crisis grew.
Bruce Orwall / Wall Street Journal:
In Interview, Murdoch Defends News Corp.
Ben Dowell / Guardian:
Rebekah Brooks resigns over phone-hacking scandal
Conor Friedersdorf / The Atlantic Online:
Sarah Palin Movie Debuts to Empty Theater in Orange County  —  “Why aren't you seeing Harry Potter?” an usher said to the reporter sitting alone in the audience  —  When the clock struck 12:01 am today, AMC theaters in select cities were permitted to start showing “The Undefeated,” a feature length documentary about Sarah Palin.
Tony Kennedy / Minneapolis Star Tribune:
Marcus Bachmann says his clinics not anti-gay  —  Therapists will oblige if patients ask for counseling to become heterosexual, but they don't force treatment, he said.  —  The husband of Republican presidential contender Michele Bachmann has come forward to defend his family-owned Christian …
RELATED:
June Thomas / Slate:
Dan Savage, Bully
Walter Shapiro / The New Republic:
The Tragedy of Tim Pawlenty  —  He did everything right.  And that was the problem.  —  At almost precisely the minute that Michele Bachmann was declaring her presidential candidacy in Iowa at the end of June, I was interviewing Tim Pawlenty in a borrowed conference room in a midtown Manhattan financial firm.
Discussion: Swampland
RELATED:
Patrick O'Connor / Washington Wire:
Pawlenty Ends Quarter With $1.4 Million
Washington Post:
S&P warns that chance of downgrading U.S. credit rating is 50 percent  —  Standard & Poor's said late Thursday that it could downgrade the U.S. credit rating as soon as this month, and there is a 50 percent chance it will do so within three months, if Washington fails to come to an agreement over the nation's debt.
RELATED:
Washington Post:
Debt limit: U.S. outreach to banks, investors over possible default comes up empty
Discussion: Prairie Weather and Politics
Cameron Joseph / Ballot Box:
Bachmann raises $2 million in two weeks to start campaign  —  Rep. Michele Bachmann (R-Minn.) raised more than $2 million in the two and a half weeks since she announced her candidacy and has $4 million cash on hand after a $2 million transfer from her House account, according to CBS News.
RELATED:
Paul Krugman:
It Was Debt What Did It  —  Never mind William Galston's strange belief that debt-deleveraging is a new theory, unknown to Keynesian economics; Mian and Sufi are in fact doing terrific work.  They have been testing the effects of household leverage by looking at cross-sectional evidence, in particular county-level US data.
Discussion: Grasping Reality … and Rortybomb
Associated Press:
U.S. Formally Recognizes Libya Rebels  —  ISTANBUL (AP) — U.S. Secretary of State Hillary Rodham Clinton says the Obama administration has decided to formally recognize Libya's main opposition group as the country's legitimate government.  The move gives foes of Libyan leader Moammar Gadhafi a major financial and credibility boost.
RELATED:
William Wan / Washington Post:
U.S. to recognize Libyan rebels as legitimate government
Robert Reich / Wall Street Journal:
Can Obama Pull a ‘Clinton’ on the GOP?  —  He's following the budget-showdown script Bill Clinton used to win re-election.  But the economy added 434,000 new jobs in February 1996.  —  After a bruising midterm election, the president moves to the political center.  He distances himself from his Democratic base.
Discussion: Pajamas Media
RELATED:
Chris Geidner / Poliglot:
DOJ Tells Court It “Continues to Defend” DADT, Seeks Reinstatement of Law “By the Close of Business Tomorrow”  —  The Department of Justice filed a motion in the U.S. Court of Appeals for the Ninth Ciruit in the Log Cabin Republicans v. United States case today, asking the court for “emergency” …
RELATED:
Phil Reese / Washington Blade:
BREAKING: DOJ seeks emergency stop to DADT injunction as Pentagon finalizes repeal
The Politico:
GOP threatens to bolt on McConnell's plan  —  A plan to cut spending, put caps on future expenditures and pass a constitutional amendment to balance the budget is certain to come up, lawmakers said.  Also on the unofficial agenda of lawmakers are several bills to force the president …
Discussion: Firedoglake
Mark Joyella / Mediaite:
Eric Bolling: 'I'll Never Forget 9/11, But Thank You, Liberals, For Reminding Me How Petty You Can Be'  —  In an emotional statement on Fox's The Five Thursday, Eric Bolling shot back at the “radical liberal left” that “pounced” on him after he said on the program Wednesday that “America was certainly safe between 2000 and 2008.
Discussion: Wonkette and ThinkProgress
Reginald Fields / Plain Dealer:
Gov. John Kasich spends $2 million off-the-cuff; unexpected cash is for the state's children's hospitals to collaborate  —  COLUMBUS, Ohio — Gov. John Kasich on Thursday spent $2 million so calmly and nonchalantly you would have thought he was just handing over $2.
Siobhan Gorman / Wall Street Journal:
Bin Laden Plotted to Attack U.S. on 9/11 Anniversary  —  Osama bin Laden was working to assemble a team of militants to attack the U.S. on the 10th anniversary of the Sept. 11 hijackings, according to communications that Navy SEALs seized from his Pakistani hideout when they killed the al Qaeda leader this spring.
 
 
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 More Items: 
David Brooks / New York Times:
Death and Budgets  —  I hope you had the chance to read …
Discussion: JustOneMinute and National Review
Alexander Burns / The Politico:
Herman Cain: Tennessee mosque could spread Sharia
Josh Rogers / NHPR.org:
Giuliani Flirts With Another Try For Oval Office
Discussion: GOP 12
Peter H. Lindert / voxeu.org:
America's Revolution: Economic disaster, development, and equality
Discussion: Marginal Revolution
Martin Peretz / The New Republic:
Sinking Fast  —  Obama's multiplying Middle East failures.
Amy Kellogg / Fox News:
Iranian Pastor Sentenced to Death Could Be Executed if He Doesn't Recant, Says Verdict
Discussion: Jihad Watch and Weasel Zippers
 Earlier Items: 
Elad Benari / Arutz Sheva:
Planned Monument for Mecca Goers Leaves Eilat Residents Shocked
WRTV-TV:
Indiana $1.2 Billion In Black, Auditor Says
Discussion: Weasel Zippers
Oregonian:
The new normal: Once trailing, Oregon a leader in economic recovery
Discussion: Newshoggers.com
Amy Gardner / Washington Post:
Palin political committee spent tens of thousands on bus trip
Discussion: Wonkette, CBS News and Balloon Juice
 

 
From Techmeme:

Mishaal Rahman / Android Authority:
Source: Google has canceled the development of a second-generation Pixel Tablet, planned for release in 2025, due to concerns that it wouldn't sell very well

Mark Gurman / Bloomberg:
Sources: Apple is testing a more conversational version of Siri, dubbed “LLM Siri”, with plans to release it in spring 2026 as part of iOS 19 and macOS 16

Hannah Lang / Reuters:
Sources: a16z, Ripple, Kraken, and Circle are jostling for a seat on Trump's promised crypto advisory council, which is expected to set up a bitcoin reserve

 
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