It's pivot time. Here's today's Morning EDition:
- Pres. Obama holds a cabinet meeting.
- Democrats hold 11:30am news conference on the FAA shutdown.
- Pres. Obama attends DNC fundraisers in Chicago.
- 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 pitches a balanced-budget amendment, thereby giving credence to the suicidal notion of a balanced-budget amendment.
- VIDEO: Sen. Joe Lieberman (I-CT) says US should cut Social Security to fund wars.
- VIDEO: New Rep. Michele Bachmann (R-MN) ad touts her opposition to the debt deal.
WALL ST. / BANKS
- Rich investors are now using oil like gold -- as a safe haven. Which means when economy goes down, oil will go up -- and thereby worsen the economy.
- Senate GOP using procedural maneuvers to keep new consumer-finance protection agency leaderless.
- Former UBS banker indicted for allegedly selling off-shore tax havens to patriotic Americans.
- The long-awaited jobs pivot. And what may prevent it.
- President to launch bus tour to push his jobs agenda. Whatever that may be.
- Dems hopeful that this time the jobs pivot will involve pivoting toward jobs.
- White House is hoping constituents will use the recess to gripe at members of Congress about jobs.
- GOP plan for creating jobs is to make life easier for rich people.
- Everyone's pro jobs, the Democratic trick will be to create momentum for a specific job-creation measure.
- Some jobs are going unfilled, because skilled workers are hard to find.
- Klein calls for Democrats to use the Bush tax cuts like the GOP used default.
- Americans spent less and saved more in June.
- Colorado gets enough signatures to put a tax increase on the ballot.
- Detroit "emergency manager" violates worker contracts, slashes salaries, some to poverty levels.
- If a student-loan bubble bursts, is it higher education that collapses?
FENDING OFF STARVATION
- Chart: Americans are using food stamps at record levels, and climbing.
- Providers balk at cuts to providers; after killing study on effects of cuts to providers.
- VIDEO: Sen. Kay Bailey Hutchison (R-TX) says House GOP action on FAA shutdown is "not honorable."
- Democratic news conference on the FAA today.
- House GOP decision to go home puts 70,000 construction workers out of work, costs taxpayers $1.2 billion.
- VIDEO: Big oil planting people at GOP 2012 town halls to push big-oil agenda.
- VIDEO: How the mayor of Vilnius uses military weaponry to enforce his bike lanes.
- Afghanistan IED attacks hit all-time high.
- Three years later, US still failing to enforce "new" rule on potential explosives.
- Study: Austerity leads to more regulation.
- Obama administration considers new rule that would loosen regulations, gets slammed for considering a new rule.
SMALL-GOVERNMENT FISCAL CONSERVATISM
- Taxpayers get the bill for Gov. Bob McDonnell's (R-VA) high-end travel.
- VIDEO: Frank Gaffney goes after Herman Cain for meeting with Muslims.
- Mormon church leaders reduce their involvement in politics to avoid appearance of involvement in politics.
- VIDEO: Huckabee says he didn't run because of "toxic" GOP atmosphere.
- Ten Bush lawyers are on board the Romney campaign, including a torture architect.
- VIDEO: Cain sees no reason not to keep making his campaign shirts in Honduras, rather than here.
- Want five reasons the Texas economy isn't to his credit? How about ten?
- Another Dem quits over explicit pics.
(What I'm reading: Greg Sargent's Plum Line, Think Progress, Matt Yglesias, Talking Points Memo, TPMDC, Taegan Goddard's Political Wire, the Washington Monthly, CNN's PoliticalTicker, the National Journal, Ezra Klein, Politico's Playbook and Huddle, Dave Weigel, Wonkette, Firedoglake, the NYT Caucus, Daily Kos, Crooks and Liars. What my iPod has me listening to: I Don't Remember by Peter Gabriel.)
Follow Senior Producer Jonathan Larsen (@jtlarsen) on Twitter