Morning EDition: July 19, 2011

Updated
By Jonathan Larsen

Obviously, we’re all watching the Murdoch hearings. But lots more is in the wind tonight. Here’s today’s Morning EDition:

TODAY

  • House votes on Cut, Cap and Balance Act tonight.
  • Wisconsin holds one primary election and two recall primaries.

BUDGET

  • The parties edge closer to a deal based on the plan proposed by Sen. GOP Leader Mitch McConnell (R-KY).
  • Tea Party, Club for Growth, threaten GOPers who sign on to the McConnell plan.
  • Club for Growth president voted to raise the debt ceiling.
  • Red State vows to oppose any GOP senator who supports McConnell’s leadership.
  • Sen. Dick Lugar (R-IN) fights back against the Club for Growth’s pro-default ads.
  • House GOP anonymously admits the McConnell plan is now Plan A.
  • And House GOP hopes to tank Plan A.
  • The exact contours of Plan A are still evolving.
  • Plan B is now…ummmm.
  • The White House wants to backload the cuts in the McConnell plan. (Meaning, maybe, future Congresses can undo them?)
  • DC oracle Charlie Cook finds the GOP putting off independents.
  • Fears of default are already roiling the markets.
  • Another fusillade from David Brooks against his right flank.
  • Fmr. Pres. Clinton says he would rely on 14th Amendment to blow through debt ceiling without congressional approval.
  • Warren Buffet calls for an end to the debt ceiling.
  • Norm Ornstein says Cut, Cap and Balance would cripple our ability to climb out of recessions.
  • Remember those GOP rules on time to read bills? Not so much for Cut, Cap and Balance.
  • Analysis: Wall St. doesn’t realize just how batty this Congress can be.
  • VIDEO: Speaker Boehner (R-OH) responds to Obama’s veto threat on Cut, Cap and Balance.
  • AUDIO: Democratic web video has Reagan’s speech on the need to raise the debt ceiling.
  • Poll: Most Republicans believe a default won’t be a problem.
  • Poll: Most Americans support tax increases. Hear that, Village?
  • Polls: And support for raising debt ceiling is growing.

CLASS WARFARE

  • Just 29 companies had more cash on hand combined than the US Treasury.
  • Reich analyzes the cause of the consumer downturn – their relative wages have gone down.

HOUSING

  • After admitting he fell short aiding homeowners, Pres. Obama declines to try anything else.

WALL ST. / BANKS

  • GOP vows to block any consumer-finance-protection chief because they don’t like the law.
  • Fraudulent foreclosures continue unabated.
  • Banks sold off mortgages without even keeping a paper trail.
  • A year after Dodd-Frank, big parts of the derivatives market that brought down the economy remain unregulated.
  • Brokers who invest on behalf of ordinary Americans praise the new rules, the Wall St. rich are still fighting against the new rules.
  • Former commodities trader pleaded guilty of threatening to kill US regulators.

EDUCATION

  • Some states are just ignoring No Child Left Behind. #Bushlegacy.

TERRORISM

  • al Qaeda shifts its efforts away from US.

ISLAMOPHOBIA

  • Richard Land schools Herman Cain on Islamophobia. RICHARD LAND.

WISCONSIN

  • First attempt to recall a Dem is today. It’s expected to fail.
  • Outside money means unprecedented ad wars.

2012

  • RNC claims Obama campaign broke the law by taping ad in the White House. Bush lawyer calls the claim an “embarrassment.”
  • Christie Vilsack will take on Rep. Steve King (R-IA).
  • Former Bush spokesman eyeing run against Sen. Maria Cantwell (R-WA). Please oh please.
  • Rove group targets Latino voters. The ones whose vote hasn’t been disenfranchised by politicians elected by Rove’s group.
  • Poll: Bachmann moves up nationally.

MITT ROMNEY

MICHELE BACHMANN

RICK PERRY

  • At the time, Perry supported the biggest tax hike in Texas history.

CHRIS CHRISTIE

RIGHT-WING MEDIA

  • News Corp. exec. had concerns watching Murdoch rehearse for today’s testimony.
  • 9/11 families seek FBI meeting regarding the Murdoch probe.

(What I’m reading: Greg Sargent’s Plum Line, Think Progress, Matt Yglesias, Talking Points MemoTPMDC, Taegan Goddard’s Political Wire, the Washington Monthly, CNN’s PoliticalTicker, the National Journal, Ezra Klein, Politico’s Playbook and Huddle, Dave Weigel, Wonkette, Firedoglake, the NYT Caucus, Daily Kos, Crooks and Liars. What msnbc has me listening to: Testimony by Rupert and James Murdoch.) 

Follow Senior Producer Jonathan Larsen (@jtlarsen) on Twitter

The Ed Show Morning Edition

Morning EDition: July 19, 2011

Updated