Morning EDition: August 1, 2011

Well, the big question now is, what will the House do? If they balk, it would seem two options remain: 14th Amendment and clean bill. The White House has ruled out one of these. As you’ll notice, I don’t see much else out there today — although there is terrific news on the health-care front. Here’s today’s Morning EDition:

TODAY

• The Senate is expected to vote on a bill cutting spending and raising the debt ceiling.

BUDGET

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• The bill of the deal.
• The deal’s first cuts.
• White House fact sheet on the deal.
• Speaker Boehner (R-OH): “It’s all spending cuts.”
• But did Boehner trick his own members again, this time by saying the deal blocks tax hikes?
• If so, it seems to have worked.
• Boehner’s PowerPoint.
• In the House, right and left could unite to kill the bill.
• House Dem Leader Pelosi (D-CA) says bill might not win any Dem votes in the House.
• Could Democrats therefore get blamed for the deal going down?
• House Dems still cling to the 14th.
• White House confirms jobless were thrown to the curb.
• And even on the professed goal of spending reduction, the gains are minimal.
• Wall St. applauds. After losing $680 billion last week. (And then goes down again. Maybe read the deal?)
• Wall St. investment-firm CEO does not applaud.
• Economists say the deal will hurt America.
• Nat. Journal reports Medicare would get cut by $300 billion (sub. req’d.)
• Grover Norquist approves.
• It’s not like any politicians got helped, either.
• Well, maybe one. A majority leader? No? A Democrat? Of course not.
• And White House calls it a victory, in email to allies.
• Greg Sargent rounds up some assessments of Obama’s performance, few of them good.
• The Obama mistakes that got us here.
• Flashback: Obama ignored, rejected or didn’t understand the warnings.
• Krugman.
• National Review.
• Analysis: GOP didn’t have to threaten default to get these cuts.
• Kevin Drum argues that the automatic cuts are already a sure thing.
• Don’t call it a compromise.
• Yglesias: Why shouldn’t we expect Obama to fold in the next spending showdown this deal creates?
• The deal sets up more showdowns in November and December.
• Congressional Black Caucus Chair Emanuel Cleaver on the “Satan sandwich.”
• Democrats can still tank this deal.
• House Rules Committee could take up debt-ceiling deal today.
• Mitt Romney weighs in, now that it’s easy to do so.
• Heritage still doesn’t like the deal.
• Our political insanity may accomplish what default would have.
• VIDEO: President Obama announces the deal.
• VIDEO: Gene Sperling defends the deal.

ECONOMY

• Consumer expectations hit two-year low.
• Government cuts hurt the economy last quarter.
• Poll: Americans see America’s decline.

HEALTH CARE

• Insurers will have to start covering birth control and other preventive services for women.
• Florida has