memeorandum: Sure Cure for the Debt Problem: Economic Growth (Catherine Rampell/New York Times)

10:30 AM ET, July 31, 2011

Top Items:

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 …

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.

Discussion: Hot Air, TPMDC, Betsy's Page, Hullabaloo, Patterico's Pontifications, Sky Dancing, Weekly Standard and Viking Pundit

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.”

Discussion: Le·gal In·sur·rec· tion and Hot Air

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 …

Discussion: Don Surber, The Gateway Pundit, CNN, The Note, Ballot Box, Weasel Zippers, Pirate's Cove, The Hill, Outside the Beltway and The Hill

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.

Discussion: CBS News, Washington Monthly, Washington Post, NationalJournal.com and The Agonist

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.

Discussion: Firedoglake, Politics, Washington Post, TalkLeft, Prairie Weather and Calculated Risk

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.

Discussion: State of the Union, Outside the Beltway, Daily Kos and New York Times

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 …

Discussion: Open Congress, Salon, Washington Post, Washington Monthly, New York Times and Booman Tribune

CNN:
Democrats, Republicans disagree on state of debt talks

Discussion: The Politico, Sky Dancing, CANNONFIRE and Pajamas Media

Kevin G. Hall / McClatchy Washington Bureau:
Economists: Now is wrong time for Congress to cut spending

Discussion: Liberty Street, Prairie Weather, The Moderate Voice and Firedoglake

Michelle Malkin:
Saturday night Kabuki bickerfest; Update: Sunday Senate Vote Pushed Back to 1pm; Backroom deal details emerge

Discussion: The Note, The Politico, The Hill, Firedoglake, The Other McCain, Hot Air and AmSpecBlog

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

Discussion: Taylor Marsh, FiveThirtyEight and Daily Kos

NationalJournal.com:
No Compromise in Sight on Debt as Congress Heads into Saturday Session

Discussion: Weekly Standard, The Atlantic Online, Hot Air and Washington Post

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

Discussion: CNN, The Note, Hugh Hewitt's TownHall Blog and Outside the Beltway

Stephen Dinan / Washington Times:
Democrats enforce filibuster against their own debt bill

Discussion: theblogprof, The Lonely Conservative, Weasel Zippers and Conservatives4Palin

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.

Discussion: Outside the Beltway, Riehl World View and sisu

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 …

Discussion: Connecting.the.Dots, Daily Kos and Hit & Run