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Newslinks for Monday July 18, 2011

Posted on 07/18/2011

6:30pm The Republican: Republican dissonance: Just as Tom Coburn introduces a plan to end historic preservation tax credits, a House Republican introduces a bill to expand them

4:30pm Video: Rep. Tom Graves on the Cut, Cap, and Balance vote tomorrow: This is the only plan that's been open for debate, and it's the only plan that will address America's problems in a common-sense way

Screen shot 2011-07-18 at 2.58.17 PM3:15pm The Republican: BACK IN BLACK: Tom Coburn riffs on the deficit and finds $9 trillion in savings by reforming Medicare, ending special interests in the tax code, and more

1:15pm Thaddeus McCotter at Americans aren't stupid - they know that $2 trillion to $4 trillion only equates to chipping away at a much bigger problem

Screen shot 2011-07-18 at 1.02.40 PM 1:00pm Video:

12:15pm The Republican: Barack Obama, the transformational President, can't cut a deal with Republicans because the GOP has been hijacked by the Tea Party...or so the story goes

11:30am The Republican: Paul Ryan documents Obama's fiscal record from January 20, 2009 to the present

Ryan Streeter on The Republican: 

Screen shot 2011-07-18 at 11.09.36 Congress gears up for crucial debt ceiling votes

  • "With few signs of movement over the weekend on negotiations to raise the federal borrowing limit, Senate leaders are planning this week to unveil a back-up plan that would force more budget wrangling before the end of the year." - WSJ
  • "The growing sentiment for raising the federal limit on U.S. borrowing sets the stage for a week of largely scripted actions on Capitol Hill, where leaders in both chambers are looking to build support for the plan being crafted by Senate Majority Leader Harry M. Reid and Senate Minority Leader Mitch McConnell." - Washington Post
  • "The impasse over the nation's debt ceiling appeared to harden Sunday as leading lawmakers shot down each other's proposals and struggled to explain how exactly Washington will avert a potential fiscal crisis in the next 16 days." - Fox News

> Yesterday on The Republican: RSC Chair Jim Jordan: 'Cut, Cap, Balance' is a plan, McConnell's proposal is 'a cop out'

Sen. Tom Coburn to unveil $9 trillion deficit reduction plan

Screen shot 2011-07-18 at 11.10.45

"Sen. Tom Coburn (R-Okla.) said Sunday the federal government can save $1 trillion though tax reform, a proposal that will put him at odds with some GOP colleagues. Coburn plans to unveil a $9 trillion deficit-reduction package Monday that would give lawmakers a menu of policy options to reduce the deficit. Coburn has suggested $1 trillion in savings could come from eliminating special tax breaks, such as the tax subsidy for ethanol, which he has fought to end. 'We can increase revenues by adjusting the tax code and lowering it,' Coburn said on CBS’s “Face the Nation” Sunday morning. 'We can save over $1 trillion doing that.'"

- The Hill

Debt talks bring out strains In GOP ranks - NPR

  • Ross Douthat: "The inability of the Republicans to make even symbolic concessions has turned a winning hand into a losing one" - New York Times
  • "A growing number of Senate conservatives are voicing their opposition to a contingency plan under negotiation by Senate leaders to avoid a national default on Aug. 2." - The Hill
  • "Republicans have made reducing the deficit their cause célèbre, but a failure to boost the debt ceiling could make the GOP’s policy goals that much harder to accomplish." - Roll Call ($)
  • Editorial: House GOP must not shy from using 'ultimate weapons' - Washington Examiner

Yesterday on Video: America's problem is debt, not the debt limit: Sen. Marco Rubio weighs in on the country's budget crisis

Clive Crook: Debt ceiling breakdown could shatter the Republicans

Screen shot 2011-07-18 at 11.25.17 "The emergence of the Tea Party in 2009 posed two questions. Would the movement capture the Republican party and, if it did, would this strengthen the resistance to Barack Obama’s liberal project or cripple it? The debt-ceiling fight in Washington settles the first issue: the Tea Party insurgency has indeed captured the Republican party in Congress." - FT ($)

Many states celebrate surpluses as Congress struggles with debt

Screen shot 2011-07-18 at 11.11.47 "As Washington stares at rising national debt and projected deficits for years to come, many states are faced with the opposite problem: whether to spend their budget surpluses and, if so, on what. At least a dozen states ended fiscal 2011 with surpluses. Indiana reported one of the largest, with an extra $1.2 billion in its accounts. Gov. Mitch Daniels, a Republican, on Friday authorized bonus payments of up to $1,000 for state employees. An employee who “meets expectations” will get $500, those who “exceed expectations” will receive $750 and “outstanding workers” will see an extra $1,000 in their August paychecks." - Washington Times

Screen shot 2011-07-18 at 11.32.41 "Mark Zandi, chief economist at Moody's Analytics, is 'optimistic' about the economy and sees unemployment trending down toward 8 percent by the end of 2012 as cyclical forces such as higher oil and food prices, as well as effects from the Japanese earthquake, begin to ease." Christian Science Monitor

RNC raises $6.7 million in June

Screen shot 2011-07-18 at 11.13.01 "The Republican National Committee raised $6.7 million in June, bringing its total for the first six months under Chairman Reince Priebus to $36.6 million. That leaves the committee short of the $45.7 million it had raised in the comparable period of the 2010 election cycle, and ever further behind the Democratic National Committee. With a big assist from President Barack Obama, the DNC has collected $57.8 million this year, including about $38 million during the second quarter alone. The RNC raised $19 million during the second quarter. In an email Sunday night, the committee said big donors are returning to the party. Major donors have given more this year than all of 2009 and 2010 combined, the committee said. Under former Chairman Michael Steele, the GOP saw an exodus of big contributors." - Washington Wire in the WSJ | Roll Call ($)

Independent groups getting a head start on 2012 campaign

"An early television war fueled by independent groups is poised to shape the focus and landscape of the 2012 presidential race much as "tea-party"-backed organizations helped set the stage for Republican victories in 2010. This summer — a full 16 months before the general election — television viewers across the country are already confronting hard-hitting commercials jousting over President Obama's record on the economy. Such political ads are usually confined to places such as Iowa and New Hampshire at this point in the race. The ads aren't the work of the president's reelection campaign or the Republicans jockeying to run against him — they are the product of a new breed of well-funded outside groups seeking to define the contours of the 2012 campaign. One of the biggest, Crossroads GPS, has pledged to spend $20 million in television advertising in July and August alone." - LA Times

"As he marches to the lead in the GOP presidential money primary, Mitt Romney is getting help from a collection of political action committees that have drawn fire from both his allies and his critics." - Roll Call ($)

> Saturday on The Republican: A disheartening (yet unsurprising) reality for the 2012 field, majority of GOP voters still don't have a favorite

Screen shot 2011-07-18 at 11.14.58 "The first look at the campaign finance activities of the 2012 White House contenders underscored not only President Obama's huge cash advantage over his rivals but also the wide disparities in the Republican field, setting the stage for an urgent money hunt by GOP candidates in the coming months." - LA Times

  • "First major spending reports of the 2012 presidential campaign demonstrate styles and priorities." - Washington Post
  • "The campaign fundraising efforts of President Obama raised $86 million in the last three months from 500,000 people — but at least $35 million of it can be traced to just 244 well-connected supporters who collected contributions from wealthy friends." - Washington Times

Saturday on The Republican: When it comes to campaign cash, Wall Street pulls a u-turn favoring Romney over Obama for 2012

Screen shot 2011-01-15 at 12.54.13 Also from the 2012 field:

  • Gays rights groups target Bachmann - Politico
  • Cain: Tennessee town can ban new mosque - The Hill
  • Giuliani to GOP: Stay out of gay marriage - CNN

  • Huntsman to GOP: Judge my record, not my religion - Washington Times

This weekend on The Republican:

Future for incandescent light bulbs looking dim - Miami Herald

Petraeus’s next battle: "As top commander in Afghanistan, he rewrote the book on combating terror. Now, as spy chief, he must transform the CIA to help fight 21st-century wars." - Newsweek

John E. Sununu: A glut of bureaucrats

"President Obama can write all of the executive orders he wants to about “reviewing regulatory costs” and “streamlining government.” But few in his Cabinet can distinguish a well-crafted and necessary rule from a waste of time and money. With unemployment at 9.2 percent and rising, Obama needs experienced business advisers in the White House. Countries like France and Switzerland handed the reins of government to a class of professional bureaucrats decades ago. The United States has a choice. We also have a constitutional foundation that is designed to resist tyrannies of all kinds. We’ll always have bureaucracies, but bureaucracies led by bureaucrats might be too much of a bad thing." - Boston Globe

  • "Business groups and labor unions will face off at a hearing over a government proposal to streamline the process of union-organizing elections." - WSJ
  • "President Obama intends to nominate former Ohio Attorney General Richard Cordray to a new consumer financial protection bureau that was a central feature of a law that overhauled banking regulations." - Fox News



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