memeorandum: Debt-Limit Deal to Get Congress Vote Today (Bloomberg)

12:30 PM 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.

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 Moderate Voice, Washington Post, The New Republic, The Hill, Hullabaloo, The Politico, TPMDC, USA Today, Guardian, Marbury, Weasel Zippers, Towleroad News #gay, American Power, Truthdig, Michelle Malkin, Suburban Guerrilla and New York Times

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: The Lonely Conservative, Shakesville, Ricochet Conversation Feed, American Power, The Future of Capitalism and Althouse

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: ThinkProgress, The Other McCain, Big Government, National Review, CNNMoney.com, theblogprof, Connecting.the.Dots, Taylor Marsh, Don Surber, Firedoglake, Scared Monkeys, Verum Serum and Crooks and Liars

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

Marc A. Thiessen / Washington Post:

How the Tea Party ‘hobbits’ won the debt fight — The Tea Party came under fire from all sides Friday after House conservatives nearly brought down Speaker John Boehner's debt-limit bill. John McCain went to the Senate floor to mock Tea Partyers as “hobbits,” and Democratic Rep. Chris Van Hollen …

Discussion: The Moderate Voice, Big Journalism, The Politico, sisu, JustOneMinute, DISSENTING JUSTICE and CNN

Jonathan Chait / The New Republic:

Did Obama Get Rolled? — The debt ceiling agreement is a horrible piece of legislation. It ratchets down already too-low domestic discretionary spending caps and imposes painful sacrifice on the middle class with little asked of the rich. Obviously, though, you can't assess any deal without asking “compared to what?”

Discussion: ThinkProgress, Mother Jones, Robert Reich, Washington Post, Lawyers, Guns & Money and The Atlantic Online

Jonathan Cohn / The New Republic:
This Is Not Leadership — Late Saturday night, media outlets …

Discussion: Salon, The Huffington Post, Washington Post, Daily Kos, ourfuture.org/blogs_chrono/* and Jared Bernstein

Jeff Zeleny / New York Times:
After Protracted Fight, Both Sides Emerge Bruised

Discussion: Washington Monthly, AMERICAblog News, New York Times, Washington Post and Hugh Hewitt's TownHall Blog

The Hill:

WHIP COUNT: House leaders in both parties seek votes to pass debt-limit deal — The debt-limit deal announced on Sunday night is expected to attract more than 60 votes in the Senate, but its outlook in the House is much more cloudy. — Speaker John Boehner (R-Ohio) will need Democratic votes …

Discussion: Alan Colmes' Liberaland, The Right Scoop and Daily Kos

David Dayen / Firedoglake:

No Guarantee Debt Limit Deal Gets Through the House — US House of Representatives Entrance (photo: deltaMike) — I talked about the debt limit deal in the past tense in my initial thoughts, but I should have put it in the present tense. Because there's no real guarantee that this thing gets through the House.

Discussion: Associated Press, Congressman Raul Grijalva, Reuters and Eschaton

Washington Post:
White House, congressional leaders reach debt-limit deal

Discussion: Cato @ Liberty, Wall Street Journal, Washington Monthly, Bearing Drift, The Hill, New York Times, The Politico, The BLT, Bankrupting America and The Reid Report

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: Firedoglake, The Heritage Foundation, White House.gov Blog, RedState, TalkLeft, The Sundries Shack, YID With LID, The Enterprise Blog, The Incidental Economist, James Pethokoukis, The Mahablog and The Reid Report

Josh Barro / National Review:
Debt Ceiling Deal—Less Than Meets the Eye

Discussion: The New Republic and Washington Post

Dan Mitchell / International Liberty:
Deconstructing the Revenue Side of the Debt-Ceiling Deal: Yes, There's a Real Threat of Higher Taxes

Discussion: The Huffington Post, Jared Bernstein, RedState and ThinkProgress

Michael O'Brien / The Hill:

Mitt Romney opposes compromise deal on the debt ceiling — Former Massachusetts Gov. Mitt Romney (R) broke his silence on the congressional debt-ceiling fight on Monday, emerging to say he couldn't back the final deal announced Sunday. — Romney, who had refused to weigh in during recent weeks …

New York Post:
Floundering Obama aims for '12 miracle

Discussion: National Review

A.Killough / CNN:
Romney comes out against debt ceiling agreement

Discussion: Ben Smith's Blog

Nicholas Schmidle / New Yorker:

GETTING BIN LADEN … - POLITICS - PROFILES - THE TALK OF THE TOWN - COMMENT - THIS WEEK'S ISSUE - THE FINANCIAL PAGE - NEWS DESK - THE POLITICAL SCENE

Discussion: Ben Smith's Blog, Outside the Beltway, Mediaite, Politics and SWJ Blog

Alicia M. Cohn / The Hill:

Sen. McCain credits the Tea Party for deficit agreement — Days after comparing its members to hobbits, Sen. John McCain (R-Ariz.) on Monday credited the Tea Party for its role in pushing for a deficit deal. — “I don't think without the Tea Party we would have had an agreement,” McCain said.

Discussion: The Politico and Weasel Zippers

Peter Beinart / Yahoo! News:
How the Tea Party Won the Deal

Discussion: The Gateway Pundit and americanthinker.com

Bret Baier / Fox News:

Gene Sperling Gives White House View of Debt Talks; Rep. McCarthy, Sens. Durbin, Kyl Talk Compromise — Special Guests: Gene Sperling, Rep. Kevin McCarthy, Sen. Dick Durbin, Sen. Jon Kyl … BRET BAIER, ANCHOR: I'm Bret Baier, in for Chris Wallace. — The debt ceiling deadline is looming large.

Discussion: Crooks and Liars and Left Coast Rebel

Jennifer Epstein / The Politico:
Gene Sperling: Obama 'didn't give one inch'

Discussion: Alan Colmes' Liberaland, Questions and Observations, The Hill and Washington Post

Sam Youngman / The Hill:

Ahead of vote, Biden dispatched to Hill — With some Democrats blasting the debt-ceiling deal agreed to by leaders and the White House Sunday night, Vice President Biden was set to return to Capitol Hill Monday to reassure Democrats before they start voting.

Discussion: CNN

Andrew Malcolm / Top of the Ticket:
More bad poll news for Obama as debt deal brings smiles to Capitol Hill

Discussion: Los Angeles Times and Rasmussen Reports

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:

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, Mock, Paper, Scissors and Daily Kos

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

Discussion: ThinkProgress, Bloomberg, Hot Air and Reuters

Lydia Saad / Gallup:

U.S. Political Ideology Stable With Conservatives Leading — Most Republicans are conservative, but one in five is “very conservative” — PRINCETON, NJ — Americans' political ideology at the midyear point of 2011 looks similar to 2009 and 2010, with 41% self-identifying as conservative, 36% as moderate, and 21% as liberal.

Discussion: No More Mister Nice Blog and Via Meadia

Kenneth P. Vogel / The Politico:

Ads tout Rick Perry as ‘better option’ for president — A new so-called super PAC supporting a prospective Rick Perry presidential campaign is going up Monday in Iowa with a statewide television buy touting the Texas governor as “a better option” for president.

Discussion: The Note, Taegan Goddard's …, Iowa Caucuses, USA Today, msnbc.com, Don Surber and The Daily Caller

Betsy Hiel / PittsburghLIVE.com:

Islamist factions jockey for power, vow religious rule — CAIRO — If a new political force here has its way, public stonings, whippings and the lopping-off of hands will become the law in the Land of the Pharaohs. — It all would help return Egypt to “an Islamic state (of) the Middle Ages,” in the words of one Salafist.

Discussion: Weasel Zippers

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: msnbc.com

Jay Newton-Small / Swampland:

Five Things for Liberals to Like in the Debt Ceiling Deal — As the broad strokes of the debt ceiling deal began to leak out over the weekend, progressive groups filled reporters' inboxes with outraged e-mails. “Seeing a Democratic President take taxing the rich off the table and instead push …

Discussion: Suburban Guerrilla

Brian Stelter / New York Times:

Al Jazeera English Arrives on N.Y. Cable — Every cable news channel has its moment. — CNN had the gulf war. Fox News had the war on terror. And Al Jazeera English had the Arab Spring. — But six months after widespread protests erupted in the Middle East, the Qatar-based Al Jazeera …

Discussion: The Moderate Voice, The Huffington Post, NewsBusters.org, The Wire and Gawker, more at Mediagazer »

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 …