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4:40 PM 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:
Ezra Klein / Washington Post:
Democrats will lose now.  But they can win later.  —  Democrats are going to lose this one.  The first stage of the emerging deal doesn't include revenue, doesn't include stimulus, and lets Republicans pocket a trillion dollars or more in cuts without offering anything to Democrats in return.
Discussion: emptywheel and DISSENTING JUSTICE
Julian Pecquet / The Hill:
GOP ready to declare victory in debt fight  —  Republicans on Sunday framed an emerging debt ceiling agreement as largely giving them what they wanted in a debt deal.  —  Senate Minority Leader Mitch McConnell (R-Ky.) also pushed back Sunday against suggestions the prolonged fight over raising …
Discussion: Alan Colmes' Liberaland and CNN
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.
Jake Tapper / Political Punch:
Negotiating All But Done for $2.7 Trillion Deficit Reduction Deal ... Now Comes the Selling  —  Sources from both parties tell ABC News that the major potential roadblock in deficit negotiations— the triggers — are now essentially agreed upon.  The plan is for the House to vote on this tomorrow, assuming all goes according to plan.
Greg Sargent / Washington Post:
GOP on verge of huge, unprecedented political victory  —  By all accounts, it looks like a deal is about to be announced in which the debt ceiling is hiked in exchange for the promise of major spending cuts, including to entitlements, totalling at least $2.4 trillion.
Discussion: Daily Kos
Brian Beutler / TPMDC:
Senate Votes Down Reid Bill, Awaits Obama/McConnell Spending-Cut-Only Debt Limit Bill  —  Shortly after 1 p.m. Sunday, the Senate voted down Majority Leader Harry Reid's debt limit bill.  —  That plan has been outmoded by a new one, hammered out by the White House and Minority Leader Mitch McConnell, that's still being finalized.
Jake Sherman / The Politico:
Boehner: ‘Serious issues’ remain  —  Speaker John Boehner emailed his House Republican colleagues Sunday afternoon acknowledging momentum in negotiations with the White House over a deficit reduction package, but we warned that “serious issues remain.”  —  The Ohio Republican told lawmakers …
Discussion: Taegan Goddard's … and The Page
Brian Beutler / TPMDC:
Dems, GOP Float Eye-Popping Debt Limit Compromise  —  Very late on Saturday, multiple reports sketched out the framework of a debt limit compromise President Obama has struck with Senate Minority Leader Mitch McConnell (R-KY).  —  As noted here, the issue under contention was the design of a so-called …
William A. Jacobson / Le·gal In·sur·rec· tion:
The end of Harry Reid as we know it  —  We don't know all the details of the negotiations between Mitch McConnell and the White House which apparently are closing in on an agreement, but one thing is clear, Harry Reid has become a sideshow.  —  The master of the Senate was left …
Discussion: PoliPundit.com and The Note
Dan / Riehl World View:   Jennifer Rubin Is An A**hole
Jennifer Rubin / Washington Post:
A deal comes together
Meghashyam Mali / The Hill:   McCarthy: GOP still wants balanced budget amendment
The Note:
Caution on Capitol Hill: ‘Nothing Is Agreed to Until Everything Is Agreed to’
Discussion: Mediaite and Hot Air
Washington Wire:
Live Blog: The U.S. Debt Battle
The Caucus:
McConnell Sees Deal “Very Close”; Focus Is on Triggers for Cuts
Discussion: Daily Kos
Peter Schroeder / The Hill:   Moody's: Neither debt plan protects the nation's AAA rating
Stanley B. Greenberg / New York Times:
Why Voters Tune Out Democrats  —  Stanley B. Greenberg is the chief executive of Greenberg Quinlan Rosner, a polling company that works with center-left political parties in the United States and abroad.  —  BARACK OBAMA can't catch a break from the American public on the economy …
The Hill:
Senate defeats Reid bill, waits to vote on deal from Obama and GOP  —  The Senate voted largely along party lines on Sunday afternoon to block legislation crafted by Senate Majority Leader Harry Reid (D-Nev.) that would raise the debt limit by $2.4 trillion.
Discussion: Daily Kos
RELATED:
Michael D. Shear / The Caucus:
Senate Blocks Reid's Debt Ceiling Plan
Discussion: Washington Monthly
New York Times:
Senate Blocks Reid's Debt Ceiling Plan; Talks Continue
Discussion: Wall Street Journal
Matthew Yglesias / ThinkProgress:
Compromise In The Works  —  The rumored deals flying around Washington today all sound pretty bad.  And how could they not be?  The White House started with a position that: … But (1) and (3) were in significant tension.  The White House strategy for getting (3) was to persuade the public that (3) was the correct position.
Thomas L. Friedman / New York Times:
Bring Back Poppy  —  WATCHING today's Republicans being led around by an extremist Tea Party faction, with no adult supervision, I find my mind drifting back to the late 1980s when I was assigned to cover the administration of George H.W. Bush, who I believe is one of our most underrated presidents.
 
 
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 More Items: 
New York Times:
A Mobilization in Washington by Wall Street
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Andrea Elliott / New York Times:
The Man Behind the Anti-Shariah Movement
Glenn Thrush / The Politico:
W.H. ‘fine’ with no new revenues until 2013
Discussion: CNN
Mgroombridge / Decide America:
Debt-Ceiling Negotiations Leaving Defense Budget in Grave Jeopardy
Steve Benen / Washington Monthly:
Extortion politics: a new form of governing
 Earlier Items: 
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Iran state media: Man spared punishment of blinding by acid
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John Hinderaker / Power Line:
“Fiscally Responsible Punk Rock Music”
Suzy Khimm / Washington Post:
Why any debt-ceiling deal will squeeze the states
Catherine Rampell / New York Times:
Sure Cure for the Debt Problem: Economic Growth
Discussion: Washington Monthly
 

 
From Mediagazer:

Alex Sherman / CNBC:
Analyzing Comcast's spinoff of cable networks, purposefully structured with low debt: the move might be a signal to the industry that it's time to consolidate

Leah Nylen / Bloomberg:
Filing: the US DOJ's proposal requires Google to allow websites more ability to opt-out of its AI products and provide more ad placement controls to advertisers

Manuela Vega / Toronto Star:
Rogers Sports & Media lays off more than two dozen employees in its radio and podcasting divisions, citing declining revenue and challenges in advertising

 
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