Debt Panel Membership to Send Signal on Chances for Tax Overhaul  —  Aug. 3 (Bloomberg) — The push to reduce the U.S. debt is shifting to the makeup of the special congressional panel charged with finding further spending cuts and whether its 12 members can consider rewriting the tax code.

Where's Your Budget, Mr. President?  —  Ever since they fudged the numbers to pass ObamaCare, Democrats have abandoned credible spending plans.  —  During the negotiations over raising the debt ceiling, President Obama reportedly warned Republican leaders not to call his bluff by sending him a bill without tax increases.

'Maybe He Hasn't Noticed or Doesn't Care, But the Country is Giving Up On Him'  —  I'm not of the mind that Barack Obama doesn't care about his fortunes in the wake of the debt deal hammered out this week.  He obviously cares since he's now jetting off for his biggest fundraisers of his re-election campaign.

Republicans Attack Obama For Having A Birthday Party  —  Apparently, you're not allowed to do anything other than create jobs, if you're Barack Obama (Mr. Boehner, where are the jobs?).  The right wing is going apoplectic because there is a star-studded Chicago fund-raiser in conjunction with his 50th birthday.

Palin says she has no respect for Romney's debt-ceiling stance  —  Former Alaska Gov. Sarah Palin (R) joined the attacks against Mitt Romney's handling of the debt-ceiling debate, saying she has no respect for how the GOP presidential front-runner handled the issue.

McConnell: ‘The debt ceiling will not be clean anymore’  —  (GETTY IMAGES) The most honest man in Washington did some more truth-telling on CNBC last night.  Speaking to Larry Kudlow, Mitch McConnell made perfectly clear that the hostage situation we just went through wasn't a one-shot deal.

Romney Advisor Robert Bork: Civil Rights Act Is ‘Unsurpassed Ugliness,’ But Contraception and Porn Bans Are Fine  —  Yesterday, former Massachusetts Gov. Mitt Romney (R) announced his presidential campaign's “Justice Advisory Committee,” along with its co-chair Robert Bork.

Syria Sends In Tanks to Storm Center of a Rebellious City  —  BEIRUT, Lebanon — Ignoring global condemnation, Syria ordered its military to storm through the rebellious city of Hama on Wednesday after three days of shelling.  Activists and residents there said that tanks …

Report on ‘Operation Shady RAT’ identifies widespread cyber-spying  —  A leading computer security firm has used logs produced by a single server to trace the hacking of more than 70 corporations and government organizations over many months, and experts familiar with the analysis say the snooping probably originated in China.

Private sector added 114,000 jobs in July  —  (Reuters) - Private employers added more jobs than expected in July, though less than in June, but planned layoffs rose to a 16-month high, according to separate surveys on Wednesday.  —  The data comes ahead of the U.S. government's key jobs report on Friday …

Stalemate in Senate Leaves 4,000 Out of Work at F.A.A.  —  WASHINGTON — After dealing with the debt crisis, Senate negotiators tried and failed on Tuesday to end a stalemate over temporary financing for the Federal Aviation Administration, leaving 4,000 agency employees out of work and relying …

How the GOP lost on the debt deal  —  The deal reached by Congress eliminates the leverage that would have been created by another imminent default until after the next election, where it will be exercised by new and possibly differently constituted players.

Another politician forced to resign after sending naked pictures to woman he had online relationship with  —  A politician who emailed a woman nude photos of himself that were posted on a GOP activist's website has resigned and said he will consider all legal options to have the pictures taken down.

Moderate Senate Dems prepare a balanced budget amendment  —  One of the big victories by tea-party Republicans in the debt-ceiling measure signed into law Tuesday was securing a requirement that Congress vote later this year on a balanced budget amendment to the Constitution.

One shot on taxes: Don't blow it, Democrats  —  There are now two sides in the American tax debate: the Republican Party, which refuses to have a serious conversation about taxes, and the Democratic Party, which . . . refuses to have a serious conversation about taxes.

Matt Damon Gives Libertarian Reporter a Satisfying Smackdown  —  A reporter from libertarian rag Reason interviewed notorious Massachusetts liberal actor Matt Damon at this year's Save Our Schools March and she tried to throw some business at him about teacher tenure and Ayn Randy incentive stuff and he wasn't having it.

D.B. Cooper Mystery: Alleged Niece Comes Forward  —  A woman claiming to be the niece of infamous skyjacker D.B. Cooper has spoken to ABC News in an exclusive interview about her role in the recently re-ignited 40-year-old cold case that has haunted the FBI for years.

K Street eyes super committee  —  K Street wasted little time putting clients on notice about the next phase of the debt ceiling debate with a simple message: Nobody is safe from the super committee.  —  Lobby shops say a much-broader-than-expected range of budget cuts and tax provisions could be in play …

Hiding Behind the Budget Act  —  The Budget Control Act of 2011, which President Obama signed on Tuesday after Congress passed it by wide margins, is as contrived as the artificial crisis that spawned it.  The bill, like a tired opera production, is full of clumsy staging and failed gimmicks left over from previous decades.

Russia's Post issues stamps to mark Obama's 50th birthday  —  Russia's Post Office has issued a collection of stamps and envelopes to mark the 50th jubilee of the US President Barack Obama.  —  The US leader is celebrating his birthday on the 4th of August.