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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, The Raw Story, xpostfactoid, Washington Post, Sky Dancing, Hullabaloo, Booman Tribune, AMERICAblog News and Daily Kos
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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:
Firedoglake, CNNMoney.com, Taylor Marsh, Verum Serum and Weekly Standard


Obama and Leaders Reach Debt Deal — WASHINGTON — President Obama and Congressional leaders of both parties said late Sunday that they had agreed to a framework for a budget deal that would cut trillions of dollars in federal spending over the next decade and clear the way for an increase in the government's borrowing limit.


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, Weasel Zippers, The Gateway Pundit and Daily Kos


IT'S A DEAL! Obama, Congressional Leaders Announce Deal To Avoid Default — President Obama and Congressional leaders announced Sunday evening they've agreed to a major, and controversial deal to raise the national debt limit and advance major cuts to government services.
Discussion:
Crooks and Liars and The Raw Story

Reid, McConnell endorse deal, will present to rank-and-file Monday — Senate leaders will meet with their caucuses Monday morning to present a bipartisan agreement to raise the debt limit and cut spending between $2 trillion and $3 trillion. — Both Senate Majority Leader Harry Reid …

Reid signs off on bipartisan debt deal — 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 from House Speaker John Boehner …
Discussion:
The Daily Caller, Weasel Zippers and Pajamas Media

GOP wins when the fight is over cuts not more taxes
Discussion:
The Gateway Pundit

Senate conservatives say they don't plan to delay consideration of debt-limit deal
Discussion:
National Review, TPMDC, Washington Post, The Note, Daily Kos and Le·gal In·sur·rec· tion

GOP ready to declare victory in debt fight
Discussion:
Alan Colmes' Liberaland and CNN


Reid signs off on debt deal as negotiators get close
Discussion:
Scared Monkeys, Iowa Caucuses, Fox News and Michelle Malkin

Live Blog: The U.S. Debt Battle
Discussion:
Alan Colmes' Liberaland, Bearing Drift, Calculated Risk and Wall Street Journal

Senate Votes Down Reid Bill, Awaits Obama/McConnell Spending-Cut-Only Debt Limit Bill
Discussion:
The Huffington Post, CNN, ThinkProgress, Crooks and Liars, mobile.nationaljournal.com and Daily Kos

Reid Backs Debt Deal and Hopes for Sunday Night Debt Vote
Discussion:
The Hill, The Politico, TPMDC, Crooks and Liars, The Huffington Post, Reuters and Daily Kos

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 TrogloPundit, The New Republic, The Other McCain, Daily Kos and THE ASTUTE BLOGGERS
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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:
Mediaite

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

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 Daily Dish, DISSENTING JUSTICE, The Politico, emptywheel, MyDD, CNN, Shakesville, Hullabaloo, The Note and The Agonist


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:
Hot Air, Taegan Goddard's … and AMERICAblog News
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Pelosi, Dem leaders withholding judgment
Discussion:
The Politico, NationalJournal.com, TalkLeft and Daily Kos


PIMCO CEO Mohamed El-Erian: Budget Deal Will Only Bring Short-Term Relief — One of the most prominent global investors says that a potential budget deal in Washington will only bring short-term relief, and it won't remove the threat of a U.S. debt downgrade by credit rating agencies.
Discussion:
New York Times and The Note
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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:
Tom Watson and Hot Air


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:
24Ahead, Balkinization, Daily Kos, Don Surber, Doug Ross, Alan Colmes' Liberaland and Suburban Guerrilla

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


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

Herman Cain dominates Denver straw poll; Rick Perry second — Herman Cain easily won the Western Conservative Summit presidential straw poll Sunday, drawing 246 ballots out of 508 cast and beating his nearest runner-up by a 179-vote margin. — Second-place contender Rick Perry took 67 votes, or 13 percent, to Cain's 48 percent.
Discussion:
The Raw Story
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