Morning EDition: August 3, 2011

Aug. 3, 2011, 11:43 AM EDT

By Jonathan Larsen

It’s pivot time. Here’s today’s Morning EDition:

TODAY

BUDGET

Most of the Tea Party members of Congress caved on their vow to default.
Conservative member of Congress voted against debt deal to protect her local hospital. Ya don’t say.
White House says the debt-deal battle will frame the choices for 2012.
Geithner argues the trigger creates powerful pressure for both parties to compromise on taxes and entitlements. Like a government default didn’t create powerful pressure?
Could the debt deal clear the way for Geithner to clear out?
Neither the market, nor independents are happy about the debt deal.
Analysts see debt deal pushing US toward a recession.
Credit-rating agency says the deal preserves America’s AAA rating.
Moody’s and Fitch warn of possible downgrades if US doesn’t reduce debt and economy doesn’t improve.
Summers says Obama should refuse to extend upper-income Bush tax cuts for any reason.
Obama’s pursuit of independents appears to be hurting his standing with independents.
House Dem Leader Nancy Pelosi (D-CA) says her super-commission appointees will oppose entitlement cuts.
Sen. Leader Harry Reid (D-NV) WANTED to appoint members who favor cutting entitlements, but might not due to GOP hard line. Thank you, GOP hard line.
Rep. Paul Ryan (R-WI) gloats over calling Obama’s bluff.
The GOP’s summer-recess talking points.
NOW Wall St. figures out that the debt deal is bad for the economy. Thanks for paying attention, rich guys.
A Democrat

Jonathan Larsen

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