The fallout from Pres. Obama’s news conference continues. Primarily with the mounting feeling that the two parties can’t agree on a deal to avoid default. Now what?
- Pres. Obama speaks at DNC fundraiser in Philadelphia.
- The Senate votes on the confirmation of David Petraeus to head the CIA.
- Mitt Romney holds a news conference at a closed metal works.
- Stephen Colbert appears at the FEC today, in a campaign that has some worried about the consequences.
BUDGET / ECONOMY
- A primer on the debt-ceiling battle.
- Certainty was the GOP’s economic mantra. Just last year.
- Was Obama’s news conference a reassertion of leadership on the economy?
- Senate Democrats will introduce a budget; reportedly to the left of Obama’s. This makes some Dems nervous.
- As we’ve cited here recently, more Republicans are open to defense cuts (rather than tax cuts). #CountryFirst.
- Ezra Klein: It’s not just that no deal’s in sight, both parties are moving away from a deal.
- DCCC hits Republicans with robocalls on entitlements.
- IMF warns that US default will be severe shock to world economy and markets.
- Sen. Chuck Schumer (D-NY) again asks whether the GOP is tanking the economy to hurt Obama.
- Standard & Poors will downgrade defaulted Treasuries to a D-rating.
- Sen. GOP Leader Mitch McConnell (R-KY) just said they need to impress Standard & Poors. Oops.
- Sen. Democrats take aim at tax breaks for the horseracing industry of McConnell’s home state, Kentucky.
- White House adviser David Plouffe says we’re in the “danger zone” for default.
- Medicaid cuts could be part of debt deal (if there is one).
- A handful of states see signs of recovery in the housing market.
- Chart: GOP recommended 85:15 mix on revenues, walked out over 83:17 proposal.
- Opinion: We need more stimulus.
- Poll: Most Americans think the country is worse off than ten years ago.
- Poll: Portion of Americans naming deficits top issue falls from 15% to 7%.
- Republicans continue to pooh-pooh default.
- Treasury Sec. Geithner knocks down GOP non-default schemes.
- VIDEO: Rep. Paul Ryan (R-WI) undercuts GOP pooh-poohing about default; says vital assistance to Americans will be cut off.
- How much legislation has Congress passed since the new GOP House majority? This much.
WALL ST. / BANKS
- The Fed gives banks a high maximum fee on credit-card charges for retailers.
- Wall Street lobbying brought the Fed in line.
- The rate of defaulted mortgages is much higher at private banks than at Fannie Mae / Freddie Mac.
- Reports of mortgage fraud soar.
- Amazon flees California to avoid state taxes.
- Investigators say Massey Energy misled the government about conditions at mine where 29 died.
- Boeing overcharged the US Army by millions.
- The Supreme Court favors the Big Guy over the Little Guy.
- Rulings against health-care reform get more coverage than those upholding it.
- Kansas doctors mount desperate effort against anti-choice regulations going into effect tomorrow.
- The new US plan means targeting terrorism, rather than getting drawn into large-scale wars.
- The US envisions an end to al Qaeda.
- The US has its deadliest month there in three years.
- Alabama’s having trouble rebuilding from its tornadoes, because it’s chasing Latino workers out of state.
- Milwaukee to lay off hundreds.
- Republican presidential fundraising seems to be going at a slow pace.
- Romney signs pledge supporting default in the absence of a balanced-budget amendment.
- Analysis: Romney’s pledge is a sign of weakness.
- Site of Romney’s news conference closed because it didn’t get stimulus money.
- VIDEO: Romney’s new anti-Obama ad.
- DNC responds to new Romney ad.
- Bachmann says family business had to accept government payments she had criticized, or be guilty of discrimination.
- VIDEO: Her husband called gays “barbarians” who need to be “disciplined.”
- Quits again; this time, a book-signing, and this time, an excuse: Not enough people showed up.
(What I’m reading: Greg Sargent’s Plum Line, Think Progress, Matt Yglesias, The Wonk Room, Talking Points Memo, TPMDC, Taegan Goddard’s Political Wire, the Washington Monthly, the National Journal, Ezra Klein, Politico’s Playbook and Huddle, Dave Weigel, Wonkette, Firedoglake, the NYT Caucus, Daily Kos, Crooks and Liars. What my iPod has me listening to: Roadrunner by Jonathan Richman and the Modern Lovers.)
Follow Senior Producer Jonathan Larsen (@jtlarsen) on Twitter