Morning Must Reads: Swap

  • News of the morning: Obama has put a very large deficit reduction deal in play. He’s looking to swap Medicare and Social Security cuts for some $1 trillion in new revenues, in part by tying future tax reform to immediate spending cuts.
  • He may be risking liberal flight, but the fine print matters a lot.
  • It’s very important for the Treasury Department to make clear that there’s no contingency plan if the Aug. 2 debt ceiling deadline isn’t met. Of course, there’s a secret contingency plan.  
  • The rhetorical line between spending and tax cuts is often arbitrary.
  • A federal appeals court has halted enforcement of Don’t Ask Don’t Tell.
  • Minnesota doesn’t know much about its own shutdown because it fired all the people who know about the shutdown.
  • Bachmann goes up with an intro TV spot in Iowa, including an on-the-news pledge against raising the debt ceiling.
Related Topics: Must Reads
  • Latest on Swampland

    Pete Souza / White House

    Obama’s Persuasive Powers on Gay Marriage Manifest in Maryland

    When President Obama endorsed gay marriage earlier this month, the media grappled with two basic political questions: Was his personal “evolution” a case of a politician transparently following a national trend toward accepting same-sex unions (accelerated, perhaps, by his chatty No. 2), and would it hurt his re-election chances by alienating socially conservative voters like black churchgoers? Sure, there was a recognition that it marked a gratifying moment for gay-marriage advocates — as well as some grumbling about the President’s view that it remains a state issue, not a federal one. But by and large, there were few suggestions that one man, even the President, would shift public opinion on the issue or affect public policy. Based on a new Public Policy Polling survey out of Maryland, it seems this possibility was underestimated.

    Lewis Eisenberg, Major Romney Donor, Accuses Obama Of Demonizing Wall StreetHuffPost Politics

    Cherokee Zero

    Apparently, Massachusetts voters don’t mind that Elizabeth Warren foolishly identified herself as a Native American early in her academic career–it was, apparently, a case of family pride and wishful thinking about a Cherokee ancestor. That’s good. Warren may be the best public figure when it comes to explaining the depredations of the financial industry and [...]

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