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.

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.

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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.

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.

1) Exactly why is it important that the “sequester”-the across-the-board cuts triggered if there is no second-round deficit deal-happens on “the same date” (1/1/13) the Bush tax cuts expire?  How does this give Obama any extra leverage?  Here's the White House:  —  These two events together will force balanced deficit reduction.

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.

Unrestrained lunacy  —  John Boehner emailed his accomplices this afternoon that:  —  Discussions are underway on legislation that will cut government spending more than it increases the debt limit, and advance the cause of the balanced budget amendment, without job-killing tax hikes.

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 …

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.

More bad poll news for Obama as debt deal brings smiles to Capitol Hill  —  Lots of smiles and happy news from Capitol Hill late Sunday as legislators on both sides optimistically announced a debt limit-spending deal to avert a threatened government shutdown Tuesday.