Morning Must Reads: Contrast

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President Obama closes his eyes as first lady Michelle Obama speaks at the White House on April 12. (REUTERS/Kevin Lamarque)

–President Obama will give his speech on long-term deficits at 1:35 pm today. In addition to revisiting some elements of Simpson-Bowles, Marc Ambinder reports Obama’s vision will be one of contrast with Paul Ryan’s plan and that he’ll stake out what won’t pass through his White House:

He will not accept Ryan’s proposal to turn Medicare into a voucher system, nor will he endorse the breakup of Medicaid into block grants for the states.

He will not accept a deficit-reduction plan that draws all of its force from government-transfer programs aimed at poor and middle-class Americans.

He will not accept a plan that doesn’t ask the rich to pay more, both by raising marginal income tax rates back to pre-2003 levels for some and by lifting the cap on wages subject to the Social Security tax.

–House Republicans prebut Obama on taxes.

Do-nothingism takes off.

–Who knew? People don’t like budget cuts.

–Was the 2011 budget deal good for the economy?

–Minority Whip Hoyer reaches out to Speaker Boehner on the debt limit.

–Boehner is allegedly spooking Wall Street execs by asking about the brink. It’s not yet clear what he wants.

–Democrats used the debt ceiling as a political football in 2006.

–Andrew Cuomo made it through a deep-cutting budget debate with sky-high approval ratings.

–The search for a CFPB chief is difficult because candidates don’t want to cut in front of Elizabeth Warren.

–Eric Ostermeier casts the budget debate.

–Don’t draft “What Did Not Happen” memos.

–And advice for any President: Never leave those fancy signing ceremonies empty-handed.

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