memeorandum: Pelosi, Dem leaders withholding judgment (Mike Lillis/The Hill)

9:10 PM ET, July 31, 2011

Top Items:

Brian Beutler / TPMDC:

Reid Agrees To Major Debt Limit Deal — Here's What He's Signed Off On — Senate Majority Leader Harry Reid (D-NV) has signed off on a deal to raise the debt limit pending the approval of his caucus — and of course if can win the backing of Senate GOP leaders and then a majority of the House.

Discussion: Washington Monthly, Sky Dancing, Hullabaloo, Booman Tribune, The Raw Story, AMERICAblog News, Talking Points Memo and Daily Kos

Elise Foley / The Huffington Post:

Durbin: Debt Deal Will Be The Death Of Keynesian Economics … WASHINGTON — The Republicans are killing Keynesian economics with their attempt to cut spending as the economy rebounds from a recession, Senate Majority Whip Dick Durbin (D-Ill.) said in a floor speech on Sunday.

Discussion: CNNMoney.com, Firedoglake, Verum Serum and The Hill

Alexander Bolton / The Hill:

Reid signs off on bipartisan debt deal but Boehner holds out — Senate Majority Leader Harry Reid (D-Nev.) has signed off on a tentative bipartisan deal forged between President Obama and GOP leaders to raise the debt limit. — But the emerging deal may be imperiled by last-minute reluctance …

Discussion: Pajamas Media, Weasel Zippers and The Daily Caller

Alexander Bolton / The Hill:

Senate conservatives say they don't plan to delay consideration of debt-limit deal — Senate Republican conservatives say they do not plan to delay a bipartisan deal to raise the debt ceiling, giving Congress a chance to make the Aug. 2 deadline set by President Obama.

Discussion: National Review, The Note, TPMDC, Washington Post, The Right Scoop, Le·gal In·sur·rec· tion and Daily Kos

Jake Sherman / The Politico:

Griping begins as debt deal specifics emerge — Members of Congress from both parties fear their leaders may have conceded too much ground in an emerging deal to raise the debt ceiling, a sign of how difficult it'll be for a sweeping plan to be signed into law before the government begins to default on its debt later this week.

Discussion: The Hill, The Page and Truthdig

The Note:

The Note — Special ‘Countdown To Crisis’ Sunday Night Edition — Done Deal? — By MICHAEL FALCONE (@michaelpfalcone) and AMY WALTER (@amyewalter) — Are we closer to a debt-limit deal than we were this morning? Yes — much closer. — Is it a done deal? Not quite.

Discussion: Taegan Goddard's … and The Caucus

Julian Pecquet / The Hill:
GOP ready to declare victory in debt fight

Discussion: Alan Colmes' Liberaland and CNN

New York Times:
Leaders Reach Deal to Raise Debt Ceiling

Discussion: The Politico, The Caucus, TalkLeft, Washington Monthly, Balloon Juice, Calculated Risk and xpostfactoid

Brian Beutler / TPMDC:
Senate Votes Down Reid Bill, Awaits Obama/McConnell Spending-Cut-Only Debt Limit Bill

Discussion: CNN and Daily Kos

David Rogers / The Politico:
Reid signs off on debt deal as negotiators get close

Discussion: Iowa Caucuses

Michael D. Shear / The Caucus:
Reid Backs Debt Deal and Hopes for Sunday Night Debt Vote

Discussion: Crooks and Liars, The Huffington Post, TPMDC, Reuters and Daily Kos

Brian Beutler / TPMDC:
Dems, GOP Float Eye-Popping Debt Limit Compromise

Discussion: The Politico, RedState, The Huffington Post, ThinkProgress, The Note, Scared Monkeys, The New Republic, Crooks and Liars, Hullabaloo, Don Surber, No More Mister Nice Blog and The Moderate Voice

Fox News:
Senate Negotiators Scramble to Finalize Debt Deal After Reid Bill Tanks

Discussion: The Right Scoop, Michelle Malkin and The Other McCain

Major Garrett / NationalJournal.com:
Outlines of Debt Compromise Emerge

William A. Jacobson / Le·gal In·sur·rec· tion:
The end of Harry Reid as we know it

Discussion: The Daily Beast, PoliPundit.com and The Note

The Hill:
Senate Dems discuss emerging deal

Discussion: The Other McCain and Daily Kos

The Note:
Caution on Capitol Hill: ‘Nothing Is Agreed to Until Everything Is Agreed to’

Discussion: CNN, theblogprof, Booman Tribune, Mediaite, americanthinker.com, AmSpecBlog, Hot Air, Le·gal In·sur·rec· tion, AMERICAblog News, Questions and Observations, The Moderate Voice, The POH Diaries and Alan Colmes' Liberaland

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 and THE ASTUTE BLOGGERS

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.

Discussion: The Note, Crooks and Liars, Washington Post, Hit & Run, Hot Air, Hullabaloo, The Moderate Voice and The Daily Dish

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: The Politico, emptywheel, DISSENTING JUSTICE and MyDD

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 …

Discussion: Doug Ross, Don Surber, Balkinization, Daily Kos, Alan Colmes' Liberaland and Suburban Guerrilla

Gautham Nagesh / The Hill:

PIMCO chief: Deal won't prevent downgrading of US AAA credit rating — The U.S. is headed for a downgrade in its credit rating regardless of whether a deal is reached this weekend, according to PIMCO founder and managing director Bill Gross. — When asked by CNN host Ali Velshi on Sunday whether …

Discussion: Right Wing News

Steven T. Dennis / Roll Call:

Debt Deal Emerging With Rightward Tilt — President Barack Obama's rightward lurch to reach a $3 trillion deficit reduction deal with no guarantee of additional revenues had liberals fuming and Republicans all but declaring victory Sunday afternoon. — With time running out to reach …

Discussion: Hot Air, Weasel Zippers and The Gateway Pundit

Mike Lillis / The Hill:

Pelosi, Dem leaders withholding judgment — Emerging from a Capitol Hill meeting with Democratic leaders, House Minority Leader Nancy Pelosi (D-Calif.) on Sunday applauded President Obama for his work on bipartisan legislation to raise the debt ceiling, but deferred her judgment on the bill until …

Discussion: The Politico, NationalJournal.com, TalkLeft and Daily Kos

The Note:

Herman Cain wins Western Conservative Summit Straw Poll; Rick Perry Second — ABC News' Arlette Saenz (@arlettesaenz) reports: — Presidential candidate Herman Cain won the straw poll at the Western Conservative Summit in Denver this weekend with 48 percent of the votes, followed by Texas Governor Rick Perry.

Discussion: CNN, Iowa Caucuses and The Other McCain

Alexander Burns / The Politico:
Herman Cain dominates Denver straw poll; Rick Perry second

Discussion: The Raw Story

Salena Zito / Real Clear Politics:

White House's Over-the-Cliff Moment — When historians look back on this moment in American politics, they may wonder why the White House failed to focus on the consuming issue of the time: the economy — and, in particular, jobs. — An exasperated U.S. Sen. Bob Casey Jr., D-Pa. …

Discussion: Hot Air