memeorandum: Biden charging Secret Service for cottage rental (Jim McElhatton/Washington Times)

9:35 AM ET, August 1, 2011

Top Items:

Paul Krugman / New York Times:

The President Surrenders — A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong. — For the deal itself, given the available information, is a disaster, and not just for President Obama and his party.

Discussion: ThinkProgress, Power Line, The New Republic, Crooks and Liars, Firedoglake, Prairie Weather, AMERICAblog News, The Other McCain, Guardian, Daily Kos, Via Meadia, Lawyers, Guns & Money and Balloon Juice

Chris Cillizza / Washington Post:

The debt-ceiling deal: Winners and losers — The debt ceiling fight is over. The White House and congressional leaders have settled on a deal to raise the nation's debt ceiling, enact immediate spending cuts and, our favorite part, create a super-commission designed to trim the federal budget further by the end of the year.

Discussion: The Politico, Left Coast Rebel, Hot Air, Daily Kos, Pirate's Cove, Outside the Beltway, Mediaite, Bearing Drift and The Moderate Voice

Peter Wallstenand David Nakamura / Washington Post:

Did Obama capitulate — or is this a cagey move? — It was President Obama's bottom line, a position he repeated in every recent public utterance on his debt-ceiling talks with Congress: Any deal must be “balanced” with spending cuts and tax increases. — But in his eleventh-hour stare …

Discussion: No More Mister Nice Blog, FrumForum and The Daily Dish

New York Times:

To Escape Chaos, a Terrible Deal — There is little to like about the tentative agreement between Congressional leaders and the White House except that it happened at all. The deal would avert a catastrophic government default, immediately and probably through the end of 2012.

Discussion: The Politico, New York Times, USA Today, The Hill, Guardian, Hullabaloo, Marbury, Washington Post, Weasel Zippers, American Power, Truthdig and Suburban Guerrilla

Wall Street Journal:

A Tea Party Triumph — The debt deal is a rare bipartisan victory for the forces of smaller government. — If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph. The bargain is nonetheless better …

Discussion: Althouse, American Power and The Future of Capitalism

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: Pajamas Media, Firedoglake, The Gateway Pundit, Daily Kos and Hot Air

Washington Post:

White House, congressional leaders reach debt-limit deal — President Obama and congressional leaders Sunday night sealed a deal to raise the federal debt limit that includes sharp spending cuts but no new taxes, breaking a partisan impasse that has driven the nation to the brink of a government default.

Discussion: Washington Monthly, The Reid Report and Tim Blair

New York Post:

Floundering Obama aims for '12 miracle — Then there was one. With the Senate's tabling of Majority Leader Harry Reid's debt-reduction deal yesterday afternoon, the only game in Washington is a nearly $3 trillion, two-stage compromise plan worked out between the White House and congressional Republicans.

Discussion: National Review

Marc A. Thiessen / Washington Post:
How the Tea Party ‘hobbits’ won the debt fight

Discussion: The Politico, JustOneMinute and CNN

New York Times:
Obama and Leaders Reach Debt Deal

Discussion: The Caucus, The Politico, Political Punch, New York Times, Washington Monthly, FiveThirtyEight, The Note, ThinkProgress, Jezebel, CNN, Outside the Beltway, Gawker, Michelle Malkin, American Power, Balloon Juice, Calculated Risk, TalkLeft and Daily Kos

Alexander Bolton / The Hill:
Reid, McConnell endorse deal, will present to rank-and-file Monday

Discussion: The Politico and Wonkette

Thomas Lane / Talking Points Memo:
Waiting To Exhale

Discussion: TPMDC and The Hill

Brian Beutler / TPMDC:
IT'S A DEAL! Obama, Congressional Leaders Announce Deal To Avoid Default

Discussion: Crooks and Liars

Michael Barone / Washington Examiner:
GOP wins when the fight is over cuts not more taxes

Discussion: Washington Post, GayPatriot, The Gateway Pundit, THE ASTUTE BLOGGERS and Scared Monkeys

Wall Street Journal:
Compromise Debt Deal in Sight

Discussion: MarketBeat, The Raw Story and Washington Wire

Andrew Stiles / National Review:
Reid's In, Pelosi Hesitant, GOP Looking for Votes

Discussion: The Hill, Weasel Zippers, Washington Post and Daily Kos

The Politico:
Democrats and some Republicans still grumbling

Discussion: Swampland, The Reid Report, TPMDC and ThinkProgress

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, theblogprof, The Other McCain, Connecting.the.Dots, Taylor Marsh, Firedoglake, Scared Monkeys, Verum Serum and Crooks and Liars

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: The Atlantic Wire, The Reaction, Sky Dancing, Hullabaloo, AMERICAblog News, Booman Tribune, Washington Monthly, The Caucus, The Raw Story, Daily Kos, Whiskey Fire, Gawker, MyDD and Fox News

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: Pajamas Media, The POH Diaries, Sky Dancing, Truthdig, Swampland, Politics, The TrogloPundit, DISSENTING JUSTICE, The Other McCain, Daily Kos and The New Republic

New York Times:

From Spending to Cuts, While the Economy Stalls — WASHINGTON — The nation's political leaders agreed on Sunday to spend and invest less money in the American economy, a step that economists said risks the reversal of a faltering recovery, in the hope of improving the nation's long-term prosperity.

Discussion: The Atlantic Online, The Caucus and Daily Kos

Imtiyaz Delawala / ABCNEWS:
PIMCO CEO Mohamed El-Erian: Budget Deal Will Only Bring Short-Term Relief

Discussion: Reuters and The Note

Ezra Klein / Washington Post:

A deal that found the lowest-common denominator — (Alex Wong - VIA BLOOMBERG) Assuming no hiccups in the House — and that might be a big assumption — we've got a deal. The deficit-reduction side includes $1 trillion in cuts now, $1.5 trillion (or more) in deficit reduction later, and a vote on a balanced budget amendment.

Discussion: International Liberty, National Review, TalkLeft, White House.gov Blog, YID With LID, The Incidental Economist, Erick's blog and Jared Bernstein

James Pethokoukis:
Debt ceiling update: tax increases still a no-go

Discussion: National Review, Wizbang and The Sundries Shack

Rachelle Younglai / Reuters:

House Democrats might not back debt deal: Pelosi — (Reuters) - Democrats in the House of Representatives might decide not to support a last-minute deal to raise the debt ceiling when they meet on Monday, House Democratic Leader Nancy Pelosi said on Sunday.

Discussion: Washington Post and AMERICAblog News

Pamela Geller / Atlas Shrugs:

Summer Camp? Antisemitic Indoctrination Training Center … The day of the Norway shooting, I was blindsided by one of the survivor's statements to the press immediately after the shooting (see above). It was so outside the box, I thought it was the kneejerk response of an anti-semite in shock.

Discussion: Jesus' General, Little Green Footballs and Maggie's Notebook

Jim McElhatton / Washington Times:

Biden charging Secret Service for cottage rental — The U.S. Secret Service does more than protect Vice President Joseph R. Biden Jr. — the agency also pays him rent. — Since April, Mr. Biden has collected more than $13,000 from the agency charged with protecting him and his family …

Discussion: Wizbang, Scared Monkeys, americanthinker.com, nation.foxnews.com, Daily Pundit and Newsalert

Christian Heinze / GOP 12:

Palin film disappears at box office — The pro-Sarah Palin documentary, The Undefeated, suffered another huge drop in ticket sales over the weekend, earning just over $5,000. — Its weekend grosses: — July 29-31: $5,200 in 4 theatres. — July 22-24: $24,664 in 14 theatres.

Discussion: Taegan Goddard's …

Julian Sanchez / New York Post:

Congress out to spy on your 'puter — If Congress had to name laws honestly, it would be called the “Forcing Your Internet Provider to Spy On You Just In Case You're a Criminal Act of 2011” — a costly, invasive mandate that even the co-author of the Patriot Act, Rep. James Sensenbrenner …