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12:20 PM ET, July 14, 2011

memeorandum

 Top Items: 
The Politico:
President Obama abruptly walks out of talks  —  President Barack Obama abruptly walked out of a stormy debt-limit meeting with congressional leaders Wednesday, a dramatic setback to the already shaky negotiations, according to GOP sources.  —  “He shoved back and said 'I'll see you tomorrow' and walked out …
RELATED:
The Hill:
Obama warns Cantor: 'Don't call my bluff' in debt-ceiling talks  —  Republicans said tense negotiations over raising the $14.3 trillion debt limit at the White House ended when President Obama stormed out of the meeting with a stern warning to House Majority Leader Eric Cantor (R-Va.): “Don't call my bluff.”
Political Punch:
Obama: ‘This May Bring My Presidency Down, but I Will Not Yield’ on No Short-Term Extensions  —  ABC News' Jake Tapper and Ann Compton report:  —  It was, sources from both parties say, the most tense of the deficit reduction meetings yet.  —  After a period of what was described …
Stuart Rothenberg / Roll Call:
Debt Ceiling Stalemate Not About Numbers  —  There is an old joke, attributed to both Winston Churchill and George Bernard Shaw.  It goes something like this:  —  Churchill: Madam, would you sleep with me for 5 million pounds?  —  Woman: My goodness, Mr. Churchill ... Well, I suppose …
Wall Street Journal:
Raters Put U.S. on Notice  —  Moody's, S&P Sound Alarms on Debt; President Obama Walks Out of Talks  —  Credit rating agencies moved closer to an unprecedented downgrade of the U.S. government's debt amid deteriorating talks in Washington, with President Barack Obama abruptly walking …
Alicia M. Cohn / The Hill:
McCaskill: GOP looks like ‘hot, sloppy mess’  —  Sen. Claire McCaskill (D-Mo.) slammed Republicans, claiming their internal divisions were impeding the ongoing debt-ceiling negotiations.  —  “I don't know what [House Speaker John] Boehner (R-Ohio) has going on in his caucus,” she said on MSNBC's Morning Joe on Thursday.
Neil Irwin / Washington Post:
Top Democrats laud GOP debt-limit move; Fed chief warns of ‘calamity’ if U.S. defaults  —  Democratic congressional leaders responded positively Wednesday to a top Republican's “backup plan” for raising the federal debt ceiling amid a new warning from the nation's central banker that failure …
Sam Stein / The Huffington Post:
Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall
Karl Rove / Wall Street Journal:
Obama Owns the Debt-Ceiling Fiasco
The Note:
Harry Reid Says ‘Childish’ Eric Cantor Shouldn't Be At The Negotiating Table
Discussion: Raw Replay and Political Punch
Bloomberg:
Obama Said to Consider Camp David Summit for Deficit Talks
Discussion: The Agonist
Jay Newton-Small / Swampland:
Obama vs. Cantor: Tempers Flare As Debt Ceiling Negotiations Take a Dramatic Turn
Discussion: Washington Monthly
Nate Silver / FiveThirtyEight:
G.O.P.'s No-Tax Stance Is Outside Political Mainstream
Jonathan Chait / The New Republic:
Obama Still Wants To Cut A Terrible Deal
Discussion: Lawyers, Guns & Money
Michael D. Shear / The Caucus:
Eric Cantor Is the Democrats' New Bogeyman
Discussion: The Hill and THE ASTUTE BLOGGERS
The Note:
Michele Bachmann Gains Momentum, Surges in Polls  —  ABC News' Jonathan Karl and Amy Bingham report:  —  Michele Bachmann is proving to be a force to be reckoned with as she picks up momentum in early caucus states and surges in the polls.  —  A national Quinnipac University poll released …
RELATED:
CNN:
3rd straight Iowa poll has Bachmann at top
Discussion: TPMDC
James Nash / Bloomberg:
Moody's Will Cut 7,000 Top-Rated Munis If U.S. Downgraded, Reviewing More  —  At least 7,000 top-rated municipal credits would have their ratings cut if the U.S. government loses its Aaa grade, Moody's Investors Service said.  —  An “automatic” downgrade affecting $130 billion …
RELATED:
Wayne Cole / Reuters:
Dollar in full retreat, NZD storms 30-year peak
Discussion: Hot Air and americanthinker.com
Bloomberg:
Moody's Downgrade Warning Pressures U.S. on Debt Deal
Dan Hirschhorn / The Politico:
Ron Paul ads hitting airwaves in Iowa, N.H.  —  Ron Paul is hitting the airwaves for the first time in Iowa and New Hampshire with a spot that warns ominously against raising the federal debt limit, POLITICO has learned.  —  The 60-second spot, made with all the flare of a Hollywood movie preview …
RELATED:
Agustino Fontevecchia / Moral Hazard:
Bernanke Fights Ron Paul In Congress: Gold Isn't Money
Matthew Yglesias / ThinkProgress:
Michele Bachmann's Weak Command Of Yiddish  —  The GOP continues its oft-troubled Jewish outreach efforts by having Michele Bachmann try and fail to pronounce “chutzpah.”  —  Meanwhile, her church says the Pope is the Antichrist, so she's sure to break out of the Evangelical bubble any day now.
Discussion: GOP 12 and The Awl
RELATED:
Kevin Sack / New York Times:
Book Challenges Obama on Mother's Deathbed Fight  —  The White House on Wednesday declined to challenge an account in a new book that suggests that President Obama, in his campaign to overhaul American health care, mischaracterized a central anecdote about his mother's deathbed dispute with her insurance company.
Rasmussen Reports:
55% Oppose Tax Hike In Debt Ceiling Deal  —  As the Beltway politicians try to figure out how they will raise the debt ceiling and for how long, most voters oppose including tax hikes in the deal.  —  Just 34% think a tax hike should be included in any legislation to raise the debt ceiling.
Scott Wong / The Politico:
Graham: GOP has no one ‘to blame but ourselves’  —  South Carolina Sen. Lindsey Graham conceded Wednesday that he and his fellow Republicans are now eating their own words as they try to convince the country they are working to stave off a federal default.  —  “Our problem is we made a big deal about this for three months.
Bloomberg:
Reinhart and Rogoff: The Economy Can't Grow  —  As public debt in advanced countries reaches levels not seen since the end of World War II, there is considerable debate about the urgency of taming deficits with the aim of stabilizing and ultimately reducing debt as a percentage of gross domestic product.
Alexander Burns / The Politico:
The Bain of Mitt Romney's campaign  —  A company that laid off hundreds of employees.  A federal “bailout” to rescue a failing bank.  Mitt Romney, at the center of it all.  —  It's a story line from a tough Democratic ad that was teed up for use against Romney in his 1994 Senate campaign in Massachusetts.
Discussion: Ben Smith's Blog, GOP 12 and Daily Kos
New York Post:
The comedian-in-chief  —  Here's a joke for you: President Obama nearly bankrupts the country with his out-of-control deficit spending — then demands responsible fiscal leadership from the Republicans.  —  OK, this is no time for humor: The country faces a deadline of Aug. 2 to either raise …
Discussion: National Review
Michael W. McConnell / Wall Street Journal:
Budget Shell Games Are Contrary to Law  —  Congressional rules require public proposals and specific numbers that can be openly debated.  —  After sending up a budget in February that would only add to government spending and deficits, President Obama has now come around to the view that …
Jess Bravin / Wall Street Journal:
A Gun Activist Takes Aim at U.S. Regulatory Power  —  MISSOULA, Mont.—With a homemade .22-caliber rifle he calls the Montana Buckaroo, Gary Marbut dreams of taking down the federal regulatory state.  —  He's not planning to fire his gun.  Instead, he wants to sell it …
Discussion: Law Blog and The BLT
Peter Orszag / Bloomberg:
About Peter R Orszag  —  Hard Slog — the Real Future of the U.S. Economy: Peter Orszag  —  The continuing weakness in the labor market and the saga of the debt limit highlight the dual problems we face: low economic growth right now and an unsustainable amount of debt for the future.
Discussion: Politics, Via Meadia and Daily Pundit
Thom Shanker / New York Times:
To Track Militants, U.S. Has System That Never Forgets a Face  —  WASHINGTON — When the Taliban dug an elaborate tunnel system beneath the largest prison in southern Afghanistan this spring, they set off a scramble to catch the 475 inmates who escaped.  —  One thing made it easier.
New York Times:
Cuomo Says Curbing Public Pension Benefits Will Be His Top Goal in '12  —  Gov. Andrew M. Cuomo, basking in the afterglow of a legislative session that he described as “unusually successful,” said Wednesday that his top priority next year would be limiting retirement benefits for new state and city workers.
blogs.telegraph.co.uk:
Bush trumps Barack in the Arab world: President Obama is proving an embarrassing flop in the Middle East  —  Today's eye-opening Zogby poll for the Arab American Institute Foundation should be a wake-up call to the White House on its failing foreign policy.  After two and a half years of bashing Israel …
 
 
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 More Items: 
Dan Harris / ABCNEWS:
Should Parents Lose Custody of Obese Kids?
Discussion: Pajamas Media
Moody's:
Announcement: Moody's Places US Aaa Government Bond Rating and Related Ratings on Review for Possible Downgrade
Linda Greenhouse / Opinionator:
A Supreme Court Scorecard
Discussion: SCOTUSblog
David Katz, M.D. / The Huffington Post:
Should Obese Children Be Taken From Parents?
Discussion: Slate and msnbc.com
Michael J. Totten / Pajamas Media:
Hanging with the Muslim Brotherhood
Discussion: Samizdata.net and Israel Matzav
Alex Pappas / The Daily Caller:
Rudy: I'll run for president if no other Republican can beat Obama
Discussion: The Note, GOP 12 and New York Magazine
 Earlier Items: 
Eric Roper / Minneapolis Star Tribune:
MillerCoors kicked off state shelves
TMZ.com:
Donald Rumsfeld — Is That a Gun In Your Pocket?
Reshma Kirpalani / ABCNEWS:
‘Ground Zero Mosque’ Clears Legal Hurdle to Build
Al Hoffman Jr / New York Times:
The Republican Case for Compromise
Discussion: The Politico and Washington Post