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2:55 PM ET, July 31, 2011

memeorandum

 Top Items: 
The Note:
Congressional Sources: Republicans and Democrats Reach Tentative Debt Deal  —  ABC News' Jonathan Karl (@JonKarl) reports:  —  Democratic and Republican Congressional sources involved in the negotiations tell ABC News that a tentative agreement has been reached on the framework of a deal …
RELATED:
Major Garrett / NationalJournal.com:
Outlines of Debt Compromise Emerge  —  An announcement could come as early as Sunday afternoon.  —  Here are the outlines of a debt-ceiling deal that congressional leaders and the Obama White House are firming up in preparation for a possible announcement as early as Sunday afternoon.
Ezra Klein / Washington Post:
Democrats will lose now.  But they can win later.  —  Democrats are going to lose this one.  The first stage of the emerging deal doesn't include revenue, doesn't include stimulus, and lets Republicans pocket a trillion dollars or more in cuts without offering anything to Democrats in return.
Brian Beutler / TPMDC:
Dems, GOP Float Eye-Popping Debt Limit Compromise  —  Very late on Saturday, multiple reports sketched out the framework of a debt limit compromise President Obama has struck with Senate Minority Leader Mitch McConnell (R-KY).  —  As noted here, the issue under contention was the design of a so-called …
William A. Jacobson / Le·gal In·sur·rec· tion:
The end of Harry Reid as we know it  —  We don't know all the details of the negotiations between Mitch McConnell and the White House which apparently are closing in on an agreement, but one thing is clear, Harry Reid has become a sideshow.  —  The master of the Senate was left …
Matthew Yglesias / ThinkProgress:
Compromise In The Works  —  The rumored deals flying around Washington today all sound pretty bad.  And how could they not be?  The White House started with a position that: … But (1) and (3) were in significant tension.  The White House strategy for getting (3) was to persuade the public that (3) was the correct position.
The Note:
Caution on Capitol Hill: ‘Nothing Is Agreed to Until Everything Is Agreed to’  —  ABC News' Jonathan Karl reports:  —  There is caution on Capitol Hill about a tentative deal being reached.  —  As the mantra here goes, “nothing is agreed to until everything is agreed to.”
Discussion: Hot Air and Mediaite
Dan / Riehl World View:
Jennifer Rubin Is An A**hole  —  Sorry, but there's really no other word for it.  Talk about someone with a malfunction.  You write for the Washington Post now, sweetie.  You need to grow up and at least write like an adult, even if you can't manage to think like one.
Jennifer Rubin / Washington Post:
A deal comes together
Peter Schroeder / The Hill:
Moody's: Neither debt plan protects the nation's AAA rating
Discussion: PoliPundit.com and Vox Popoli
Julian Pecquet / The Hill:
GOP ready to declare victory in debt fight  —  Republicans on Sunday framed an emerging debt ceiling agreement as largely giving them what they wanted in a debt deal.  —  Senate Minority Leader Mitch McConnell (R-Ky.) also pushed back Sunday against suggestions the prolonged fight over raising …
RELATED:
The Caucus:
McConnell Sees Deal “Very Close”; Focus Is on Triggers for Cuts
Discussion: Daily Kos
Jake Sherman / The Politico:
Boehner: ‘Serious issues’ remain  —  Speaker John Boehner emailed his House Republican colleagues Sunday afternoon acknowledging momentum in negotiations with the White House over a deficit reduction package, but we warned that “serious issues remain.”  —  The Ohio Republican told lawmakers …
Discussion: Taegan Goddard's …
RELATED:
Meghashyam Mali / The Hill:   McCarthy: GOP still wants balanced budget amendment
Washington Wire:
Live Blog: The U.S. Debt Battle
Stanley B. Greenberg / New York Times:
Why Voters Tune Out Democrats  —  Stanley B. Greenberg is the chief executive of Greenberg Quinlan Rosner, a polling company that works with center-left political parties in the United States and abroad.  —  BARACK OBAMA can't catch a break from the American public on the economy …
Thomas L. Friedman / New York Times:
Bring Back Poppy  —  WATCHING today's Republicans being led around by an extremist Tea Party faction, with no adult supervision, I find my mind drifting back to the late 1980s when I was assigned to cover the administration of George H.W. Bush, who I believe is one of our most underrated presidents.
 
 
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 More Items: 
Glenn Thrush / The Politico:
W.H. ‘fine’ with no new revenues until 2013
Discussion: CNN
Steve Benen / Washington Monthly:
Extortion politics: a new form of governing
Mike Lillis / The Hill:
Black Caucus urges Obama to use 14th Amendment debt fix
Discussion: ThinkProgress and Weasel Zippers
CNN:
Iran state media: Man spared punishment of blinding by acid
Discussion: Weasel Zippers
John Hinderaker / Power Line:
“Fiscally Responsible Punk Rock Music”
 Earlier Items: 
Suzy Khimm / Washington Post:
Why any debt-ceiling deal will squeeze the states
Catherine Rampell / New York Times:
Sure Cure for the Debt Problem: Economic Growth
Discussion: Washington Monthly
Evan McMorris-Santoro / TPMDC:
Wisconsin GOPer Admits She Compared Public Schools To Nazi Germany
Discussion: FOX News Radio
George F. Will / Washington Post:
Declaration of independents  —  August is upon us …
 

 
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Spotify reports Q1 revenue up 20% YoY to €3.6B, MAUs up 19% YoY to 615M, below 617.9M est., subscribers up 14% YoY to 239M, and a €168M operating income

Chris Morris / Fortune:
Taylor Swift's new album smashed streaming records; Spotify says it had 300M+ streams on launch day and became 2024's most-streamed album within just 12 hours

Jennifer Schuessler / New York Times:
PEN America cancels its 2024 literary awards ceremony, set for April 29, after months of protests over the organization's response to the war in Gaza

 
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