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4:00 PM ET, August 1, 2011

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 Top Items: 
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.
RELATED:
Joe Klein / Swampland:
Krugman Quibble  —  I agree with most of what Paul Krugman has to say about the debt deal-with one crucial exception.  He's right that Obama should have included raising the debt ceiling in last December's tax deal...but he's wrong, I think, about the President using what we'll call …
Discussion: Guardian and Balloon Juice
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.
Nate Silver / FiveThirtyEight:
The Fine Print on the Debt Deal  —  If Democrats read the fine print on the debt deal struck by President Obama and Congressional leaders, they'll find that it's a little better than it appears at first glance.  —  That's not to say that the deal is a good one for them.
Jonathan Chait / The New Republic:
Did Obama Get Rolled?  —  The debt ceiling agreement is a horrible piece of legislation.  It ratchets down already too-low domestic discretionary spending caps and imposes painful sacrifice on the middle class with little asked of the rich.  Obviously, though, you can't assess any deal without asking “compared to what?”
Kevin Drum / Mother Jones:
Why the Debt Ceiling Deal Sucks  —  Marian and I have now been married for 20 years (yay us!), so we went up to LA yesterday to see a show and then stayed over today to have lunch with Mark Kleiman and then watch world #84 Ernests Gulbis beat Mardy Fish in the finals of the Farmers Classic at UCLA.
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 …
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 …
Josh Barro / National Review:
Debt Ceiling Deal—Less Than Meets the Eye  —  My stated preference has long been for a clean debt ceiling hike.  Failing that, I wanted to see a debt ceiling deal that contained as little policy as possible, or at least very little bad policy.  This deal meets those criteria, and I am satisfied.
Glenn Greenwald / Salon:
The myth of Obama's “blunders” and “weakness”  —  With the details of the pending debt deal now emerging (and for a very good explanation of the key terms, see this post by former Biden economic adviser Jared Bernstein), a consensus is solidifying that (1) this is a virtually full-scale victory …
CBO's Latest 10 Documents:
CBO ANALYSIS OF AUGUST 1 BUDGET CONTROL ACT  —  Letter to the Honorable John Boehner and the Honorable Harry Reid  —  The Congressional Budget Office (CBO) has estimated the impact on the deficit of the Budget Control Act of 2011, as posted on the Web site of the House Committee on Rules on August 1, 2011.
Matthew Yglesias / ThinkProgress:
The Hostages Next Time  —  I remember last December sitting …
Ezra Klein / Washington Post:
A deal that found the lowest-common denominator
Jay Newton-Small / Swampland:
Five Things for Liberals to Like in the Debt Ceiling Deal
Ezra Klein / Washington Post:
Winners and losers: policy edition
Chris Cillizza / Washington Post:
The debt-ceiling deal: Winners and losers
Michael O'Brien / The Hill:
Mitt Romney opposes compromise deal on the debt ceiling  —  Former Massachusetts Gov. Mitt Romney (R) broke his silence on the congressional debt-ceiling fight on Monday, emerging to say he couldn't back the final deal announced Sunday.  —  Romney, who had refused to weigh in during recent weeks …
RELATED:
Benjy Sarlin / TPMDC:
Romney Breaks Debt Ceiling Silence: ‘Cannot Support This Deal’
Jennifer Epstein / The Politico:
Gene Sperling: Obama 'didn't give one inch'
Matt Lewis / The Daily Caller:   “The credit belongs to the man who is actually in the arena,” …
The Hill:
WHIP COUNT: House leaders in both parties seek votes to pass debt-limit deal  —  The debt-limit deal announced on Sunday night is expected to attract more than 60 votes in the Senate, but its outlook in the House is much more cloudy.  —  Speaker John Boehner (R-Ohio) will need Democratic votes …
RELATED:
The Hill:
GOP leaders, Biden scramble for House support on debt deal  —  Congressional leaders are urgently trying to secure the votes to pass the bipartisan debt limit deal as the House prepares for a critical Monday evening vote.  —  House Majority Leader Eric Cantor (R-Va.) predicted passage …
RELATED:
Rick Manning / Pundits Blog:
No deal better than a bad deal
Discussion: The Note
The Politico:
Congress races toward Monday debt vote
Discussion: Associated Press
Rep. Ron Paul / Economy & Budget:
When a cut is not a cut  —  One might think that the recent drama over the debt ceiling involves one side wanting to increase or maintain spending with the other side wanting to drastically cut spending, but that is far from the truth.  In spite of the rhetoric being thrown around …
Discussion: nation.foxnews.com
RELATED:
Bruce Bartlett / Economix:
Doing Away With the Debt Ceiling
David Catanese / The Politico:
AFP Wisconsin ballots have late return date  —  Americans for Prosperity is sending absentee ballots to Democrats in at least two Wisconsin state Senate recall districts with instructions to return the paperwork after the election date.  —  The fliers, obtained by POLITICO …
Discussion: TPMDC, ThinkProgress and Daily Kos
Nicholas Schmidle / New Yorker:
GETTING BIN LADEN … - POLITICS - PROFILES - THE TALK OF THE TOWN - COMMENT - THIS WEEK'S ISSUE - THE FINANCIAL PAGE - NEWS DESK - THE POLITICAL SCENE
Lydia Saad / Gallup:
U.S. Political Ideology Stable With Conservatives Leading  —  Most Republicans are conservative, but one in five is “very conservative”  —  PRINCETON, NJ — Americans' political ideology at the midyear point of 2011 looks similar to 2009 and 2010, with 41% self-identifying as conservative, 36% as moderate, and 21% as liberal.
The Politico:
Debt ceiling agreement a fair compromise?  —  David Mark  —  Moderator :  —  Facing the imminent prospect of default, the White House and Senate Republicans worked through Sunday to close a debt ceiling deal that gives President Barack Obama greater certainty in managing the Treasury's borrowing needs …
Discussion: Salon
RELATED:
Matthew Dickinson / Presidential Power:
Did Obama Cave?  —  In his first public comments since …
 
 
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 More Items: 
Fouad Ajami / Wall Street Journal:
Barack Obama the Pessimist
Discussion: Israel Matzav
Larry O'Connor / Breitbart.tv:
CBS News' Norah O'Donnell: ‘Where are the Tax Revenues?’, ‘We Got Nothing’
Discussion: The New Republic
Daniel Strauss / The Hill:
Rep. Jackson: Compromise ‘gained by extortion and a weak defense’
Discussion: Weasel Zippers
Paul Krugman:
If I Were In The House
Igor Volsky / ThinkProgress:
Why Rick Santorum's Argument About Same-Sex Marriage Leading To Polygamy Is So Wrong
Discussion: Equality Matters
Michael Winerip / New York Times:
Pa. Joins States Facing a School Cheating Scandal
Discussion: msnbc.com
Matthew Yglesias / ThinkProgress:
Me: Talking About Books  —  I did a “Five Books” interview …
Discussion: Eschaton
 Earlier Items: 
Greg Sargent / Washington Post:
Memo to Congress: With deficit deal done, time for that pivot to jobs
Discussion: Washington Monthly and Angry Bear
David Frum / CNN:
Wake up GOP: Smashing system doesn't fix it
Jeffrey Goldberg / The Atlantic Online:
The Texas Congressman and the Israeli Fascist
Christian Heinze / GOP 12:
Palin film disappears at box office
Discussion: msnbc.com
Peter Wallstenand David Nakamura / Washington Post:
Did Obama capitulate — or is this a cagey move?