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McConnell proposal would force major review of entitlements — Larry Kudlow, who's plugged in with Congressional Republicans, scoops a key new detail about the emerging Mitch McConnell proposal to transfer control of the debt ceiling to the president:
Discussion:
Hullabaloo
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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 even as President Barack Obama and congressional leaders paused their negotiations to determine if they can reach a deal.
Discussion:
New York Times, The Atlantic Online, CNN, The Politico, The Hill, New York Magazine, FrumForum, Washington Post and Outside the Beltway

DeMint pledges to stop McConnell plan — Sen. Jim DeMint (R-S.C.) on Friday said he would use “every tool” available to stop Senate Minority Leader Mitch McConnell's (R-Ky.) fallback proposal for the debt ceiling negotiations. — “I'll use every tool in Senate to stop passage of “Plan B” …
Discussion:
Weasel Zippers and Hot Air

Republican leaders embrace ‘Cut, Cap and Balance’ plan; vote set for next week
Discussion:
Le·gal In·sur·rec· tion

GOP Senator: Maybe We Shouldn't Have Tied Debt Vote To Deficit Deal (VIDEO)
Discussion:
ThinkProgress, Washington Monthly, Sacramento Bee, Booman Tribune, Taylor Marsh and Balloon Juice

Kaine: Cantor shouldn't be pushed out of debt negotiations
Discussion:
Weasel Zippers, The Hill and TPMDC

McConnell's Uber-Clever Debt-Deal Stratagem
Discussion:
The New Republic and Taylor Marsh

Cantor: ‘Not a Game’ — A couple of hours before Thursday's …
Discussion:
Political Punch, Weasel Zippers and Pundit & Pundette


‘Decision Time’ on Budget, Obama Tells Leaders
Discussion:
The Politico, Washington Monthly, Washington Post, The Caucus, Daily Kos, Jared Bernstein and FrumForum

With Debt Talks Stalled, Democrats Try to Divide and Conquer the GOP
Discussion:
Los Angeles Times, Reuters and Bloomberg


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.
Discussion:
New York Magazine, ThinkProgress, Ben Smith's Blog, Riehl World View, TBogg, GOP 12, The Impolitic and FrumForum

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.


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 …
Discussion:
ThinkProgress, USA Today, CNN, The Note, Ben Smith's Blog, Alan Colmes' Liberaland, La Daily Musto, TPMDC, Truth Wins Out, Mediaite, msnbc.com, AMERICAblog Gay, Towleroad News #gay and Politics
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Dan Savage, Bully
Discussion:
Outside the Beltway, FrumForum, The Moderate Voice and Althouse

Call Obama's bluff — President Obama is demanding a big long-term budget deal. He won't sign anything less, he warns, asking, “If not now, when?” — How about last December, when he ignored his own debt commission's recommendations? How about February, when he presented a budget …
Discussion:
Le·gal In·sur·rec· tion, Michelle Malkin, The New Republic, Cato @ Liberty, AmSpecBlog and Daily Kos
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Go Ahead, GOP, Make Obama's Day
Discussion:
Wall Street Journal and Instapundit


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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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.
Discussion:
ThinkProgress and No More Mister Nice Blog


U.S. Recognizes Rebels in Libya — ISTANBUL, Turkey — The United States formally recognized the rebel leadership in Libya as the country's legitimate government on Friday, news agencies reported. The move ratcheted up the diplomatic pressure on Col. Muammar el-Qaddafi amid …
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U.S. Formally Recognizes Libya Rebels
Discussion:
The Politico, Reuters, Outside the Beltway, CBS News and ThinkProgress

U.S. to recognize Libyan rebels as legitimate government
Discussion:
Eunomia, The Gateway Pundit, FrumForum, The Page and Global Spin


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
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Pawlenty Ends Quarter With $1.4 Million
Discussion:
CNN, Ballot Box, msnbc.com, Ben Smith's Blog and GOP 12


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, American Power and Via Meadia

67% Oppose Upcoming ‘Ban’ on Traditional Light Bulbs — One-in-five Americans (20%) say they or someone they know has bought large quantities of traditional light bulbs to use when those bulbs disappear off store shelves next year under new federal light bulb regulations.

Source: Bachmann raised $4 million in second quarter — A source close to GOP presidential aspirant Rep. Michele Bachmann has told CBS News that Bachmann will report a little less than $4 million raised for her campaign in the second quarter. Bachmann, who kicked off her campaign in Waterloo …
Discussion:
Associated Press, Washington Post, Outside the Beltway, Conservatives4Palin and The Page
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Bachmann raises $2 million in two weeks to start campaign
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Minneapolis Star Tribune

Death and Budgets — I hope you had the chance to read and reread Dudley Clendinen's splendid essay, “The Good Short Life,” in The Times's Sunday Review section. Clendinen is dying of amyotrophic lateral sclerosis, or A.L.S. If he uses all the available medical technology, it will leave him …
Discussion:
JustOneMinute and National Review

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

GOP light bulb amendment likely to pass Friday after earlier defeat — The House appears likely on Friday to accept an amendment to the 2012 Energy and Water Appropriations Act that would deny funding for the implementation of funds to implement a 2007 law that Republicans say will ban incandescent light bulbs.
Discussion:
The Politico, ThinkProgress and Pajamas Media