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9:10 AM ET, August 1, 2011

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Paul Krugman / New York Times:
The President Surrenders  —  A deal to raise the federal debt ceiling is in the works.  If it goes through, many commentators will declare that disaster was avoided.  But they will be wrong.  —  For the deal itself, given the available information, is a disaster, and not just for President Obama and his party.
Brian Beutler / TPMDC:
Reid Agrees To Major Debt Limit Deal — Here's What He's Signed Off On  —  Senate Majority Leader Harry Reid (D-NV) has signed off on a deal to raise the debt limit pending the approval of his caucus — and of course if can win the backing of Senate GOP leaders and then a majority of the House.
Greg Sargent / Washington Post:
GOP on verge of huge, unprecedented political victory  —  By all accounts, it looks like a deal is about to be announced in which the debt ceiling is hiked in exchange for the promise of major spending cuts, including to entitlements, totalling at least $2.4 trillion.
Brian Beutler / TPMDC:
IT'S A DEAL! Obama, Congressional Leaders Announce Deal To Avoid Default
Discussion: Crooks and Liars and The Hill
Thomas Lane / Talking Points Memo:
Waiting To Exhale
Discussion: TPMDC and The Hill
Chris Cillizza / Washington Post:
The debt-ceiling deal: Winners and losers  —  The debt ceiling fight is over.  The White House and congressional leaders have settled on a deal to raise the nation's debt ceiling, enact immediate spending cuts and, our favorite part, create a super-commission designed to trim the federal budget further by the end of the year.
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Peter Wallstenand David Nakamura / Washington Post:
Did Obama capitulate — or is this a cagey move?  —  It was President Obama's bottom line, a position he repeated in every recent public utterance on his debt-ceiling talks with Congress: Any deal must be “balanced” with spending cuts and tax increases.  —  But in his eleventh-hour stare …
New York Times:
To Escape Chaos, a Terrible Deal  —  There is little to like about the tentative agreement between Congressional leaders and the White House except that it happened at all.  The deal would avert a catastrophic government default, immediately and probably through the end of 2012.
Wall Street Journal:
A Tea Party Triumph  —  The debt deal is a rare bipartisan victory for the forces of smaller government.  —  If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph.  The bargain is nonetheless better …
Washington Post:
White House, congressional leaders reach debt-limit deal  —  President Obama and congressional leaders Sunday night sealed a deal to raise the federal debt limit that includes sharp spending cuts but no new taxes, breaking a partisan impasse that has driven the nation to the brink of a government default.
Marc A. Thiessen / Washington Post:
How the Tea Party ‘hobbits’ won the debt fight  —  The Tea Party came under fire from all sides Friday after House conservatives nearly brought down Speaker John Boehner's debt-limit bill.  John McCain went to the Senate floor to mock Tea Partyers as “hobbits,” and Democratic Rep. Chris Van Hollen …
Discussion: JustOneMinute and CNN
Steven T. Dennis / Roll Call:
Debt Deal Emerging With Rightward Tilt  —  President Barack Obama's rightward lurch to reach a $3 trillion deficit reduction deal with no guarantee of additional revenues had liberals fuming and Republicans all but declaring victory Sunday afternoon.  —  With time running out to reach …
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New York Times:
Obama and Leaders Reach Debt Deal  —  WASHINGTON — President Obama and Congressional leaders of both parties said late Sunday that they had agreed to a framework for a budget deal that would cut trillions of dollars in federal spending over the next decade and clear the way for an increase in the government's borrowing limit.
Alexander Bolton / The Hill:
Reid, McConnell endorse deal, will present to rank-and-file Monday
Discussion: The Politico and Wonkette
Wall Street Journal:
Compromise Debt Deal in Sight
Ezra Klein / Washington Post:
A deal that found the lowest-common denominator  —  (Alex Wong - VIA BLOOMBERG) Assuming no hiccups in the House — and that might be a big assumption — we've got a deal.  The deficit-reduction side includes $1 trillion in cuts now, $1.5 trillion (or more) in deficit reduction later, and a vote on a balanced budget amendment.
RELATED:
James Pethokoukis:
Debt ceiling update: tax increases still a no-go
Discussion: National Review and Wizbang
Imtiyaz Delawala / ABCNEWS:
PIMCO CEO Mohamed El-Erian: Budget Deal Will Only Bring Short-Term Relief  —  One of the most prominent global investors says that a potential budget deal in Washington will only bring short-term relief, and it won't remove the threat of a U.S. debt downgrade by credit rating agencies.
Discussion: Reuters and The Note
RELATED:
New York Times:
From Spending to Cuts, While the Economy Stalls
Discussion: The Caucus and Daily Kos
Rachelle Younglai / Reuters:
House Democrats might not back debt deal: Pelosi  —  (Reuters) - Democrats in the House of Representatives might decide not to support a last-minute deal to raise the debt ceiling when they meet on Monday, House Democratic Leader Nancy Pelosi said on Sunday.
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Pamela Geller / Atlas Shrugs:
Summer Camp?  Antisemitic Indoctrination Training Center … The day of the Norway shooting, I was blindsided by one of the survivor's statements to the press immediately after the shooting (see above).  It was so outside the box, I thought it was the kneejerk response of an anti-semite in shock.
Jim McElhatton / Washington Times:
Biden charging Secret Service for cottage rental  —  The U.S. Secret Service does more than protect Vice President Joseph R. Biden Jr. — the agency also pays him rent.  —  Since April, Mr. Biden has collected more than $13,000 from the agency charged with protecting him and his family …
Kenneth P. Vogel / The Politico:
Ads tout Rick Perry as ‘better option’ for president  —  A new so-called super PAC supporting a prospective Rick Perry presidential campaign is going up Monday in Iowa with a statewide television buy touting the Texas governor as “a better option” for president.
Discussion: Don Surber and GOP 12
Christian Heinze / GOP 12:
Palin film disappears at box office  —  The pro-Sarah Palin documentary, The Undefeated, suffered another huge drop in ticket sales over the weekend, earning just over $5,000.  —  Its weekend grosses:  —  July 29-31: $5,200 in 4 theatres.  —  July 22-24: $24,664 in 14 theatres.
Discussion: Taegan Goddard's …
 
 
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 More Items: 
Sig Christenson / Houston Chronicle:
Some in Killeen worry they're a target
Discussion: This ain't Hell …
Mark J. Perry / CARPE DIEM:
The Mancession Continues: Men Have Lost 192 Jobs for Every 100 Jobs Lost by Women Since Jan. 2008
Frank Donze / New Orleans Times-Picayune:
Edwin Edwards is barely singed at 84th birthday roast
Discussion: Hotline On Call and RedState
Kevin G. Hall / McClatchy Washington Bureau:
Experts: Debt deal avoids tackling hard questions
Menzie Chinn / Econbrowser:
Tales from GDP revisions
Discussion: Grasping Reality …
Simonhernandezarthur / CNN:
Bachmann cuts Iowa swing short
Discussion: GOP 12
CNNMoney.com:
Asian markets surge on ‘debt relief’
Discussion: blogs.telegraph.co.uk
 Earlier Items: 
Robert / Jihad Watch:
New York Times concedes that Spencer and other anti-jihadists are not responsible for Norway murders
Directorblue / Doug Ross:
WARNING: Do not show this chart to a liberal (unless wearing headgear to protect you from a …
Voice of America:
Remake of history
Discussion: Weasel Zippers and Jihad Watch
MyFOX Detroit:
Agents Raid Wrong House in Sterling Heights
Gautham Nagesh / The Hill:
PIMCO chief: Deal won't prevent downgrading of US AAA credit rating
Salena Zito / Real Clear Politics:
White House's Over-the-Cliff Moment
Discussion: Hot Air and Tom Watson