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10:30 AM ET, July 31, 2011

memeorandum

 Top Items: 
The Note:
Congressional Sources: Republicans and Democrats Reach Tentative Debt Deal  —  ABC News' Jonathan Karl (@JonKarl) reports:  —  Democratic and Republican Congressional sources involved in the negotiations tell ABC News that a tentative agreement has been reached on the framework of a deal …
RELATED:
Major Garrett / NationalJournal.com:
Outlines of Debt Compromise Emerge  —  An announcement could come as early as Sunday afternoon.  —  Here are the outlines of a debt-ceiling deal that congressional leaders and the Obama White House are firming up in preparation for a possible announcement as early as Sunday afternoon.
The Note:
Caution on Capitol Hill: ‘Nothing Is Agreed to Until Everything Is Agreed to’  —  ABC News' Jonathan Karl reports:  —  There is caution on Capitol Hill about a tentative deal being reached.  —  As the mantra here goes, “nothing is agreed to until everything is agreed to.”
Jennifer Rubin / Washington Post:
A deal comes together  —  Two senior Republican offices have confirmed that while the outlines of a debt-ceiling deal are in place, no “paper” has been exchanged.  The agreement would take the country through the 2012 election, but the Boehner bill two-step cutting process would remain.
Discussion: Riehl World View
Seung Min Kim / The Politico:
Pelosi: Boehner went to ‘dark side’  —  House Minority Leader Nancy Pelosi didn't mince words on Speaker John Boehner's efforts on the debt ceiling, whipping out a Star Wars reference on the House floor Saturday.  —  Instead of working out a compromise with Democrats, she said on the House floor …
Heidi Przybyla / Bloomberg:
White House, Republicans Said to Reach Tentative Deal on U.S. Debt Ceiling  —  The White House and congressional Republicans have found the framework of an agreement to increase the nation's debt ceiling that would raise borrowing authority through the next presidential election, a person familiar with the talks said late last night.
Carl Hulse / New York Times:
Amid New Talks, Some Optimism on Debt Crisis  —  WASHINGTON — New budget talks between top Congressional Republicans and President Obama made progress late Saturday, suddenly stirring optimism that a last-minute deal could be reached to avert a potential federal default that threatened significant economic and political consequences.
David Rogers / The Politico:
Senate debt vote delay is sign of hope  —  Senate Republican Leader Mitch McConnell is in active negotiation with the White House on a debt ceiling deal, and Democrats agreed late Saturday night to postpone a partisan-tinged cloture vote to give time for both sides to reach a deal.
Brian Beutler / TPMDC:
BREAKING: Dems Delay Debt Limit Test Vote  —  Senate Democrats have delayed a key Sunday morning test vote on legislation to raise the debt limit, as negotiations to avoid a catastrophic debt default drag on.  —  Late Saturday, Senate Majority Leader Harry Reid (D-NV) announced on the Senate floor …
The Note:
Reid Dismisses GOP Letter Against His Bill, Says His Bill Is ‘Only Game In Town’
Discussion: Weasel Zippers
U.S. Senate Republican Leader Mitch McConnell:
43 Senators Sign Letter Opposing The Reid Bill
Molly K. Hooper / The Hill:
‘Fully engaged’ McConnell expresses optimism on debt deal
Discussion: ThinkProgress and AMERICAblog News
Josiah Ryan / The Hill:
Forty-three GOP senators pledge opposition to Reid debt-ceiling plan
Stephen Dinan / Washington Times:
Democrats enforce filibuster against their own debt bill
Pete Kasperowicz / The Hill:
Rep. McCotter calls for a truce between Republicans, Tea Party  —  Rep. Thaddeus McCotter (Mich.), a Republican presidential candidate, called Saturday morning for Republicans and the Tea Party to stop fighting and work together to help save the country, presumably from Democratic policies, although he was not specific.
RELATED:
Maureen Dowd / New York Times:
Tempest in a Tea Party  —  SO I was chatting with Chris Coons, the new Democratic senator from Delaware who had a rare win over the Tea Party when he beat loony Christine “I've Dabbled in Witchcraft but I Am Not a Witch” O'Donnell in the midterms.  —  Coons is a smart guy who's alarmed …
Discussion: Reuters, Weasel Zippers and Althouse
George F. Will / Washington Post:
Declaration of independents  —  August is upon us, beaches beckon and Michele Bachmann has set the self-improvement bar high.  She recently told The Wall Street Journal, “When I go on vacation and I lay on the beach, I bring von Mises.”  The congresswoman may be the first person ever …
 
 
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 More Items: 
Catherine Rampell / New York Times:
Sure Cure for the Debt Problem: Economic Growth
Discussion: Washington Monthly
Peter Schroeder / The Hill:
Moody's: Neither debt plan protects the nation's AAA rating
Andrew Ferguson / Weekly Standard:
Civility, Obama Style
Discussion: Power Line
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