On the Radar: July 25, 2011

Debt Aspirations Don't Match The Situation
By Major Garrett, National Journal
The aspirations don't match the situation. To hear them talk, the White House and every key player on Capitol Hill wants to avoid the first-ever default in American history. That's the aspiration. Read more

Rival Debt Plans Being Assembled By Party Leaders
By Helene Cooper and Jennifer Steinhauer, The New York Times
The House speaker, John A. Boehner, and the Senate majority leader, Harry Reid, were preparing separate backup plans to raise the nation’s debt ceiling on Sunday after they and the White House were unable to form a bipartisan plan that would end an increasingly grim standoff over the federal budget. Read more

Lawmakers Renew Push For Deal On Cutting Deficit
By Jackie Calmes and Carl Hulse, The New York Times
Despite growing fears that world markets might react negatively to a breakdown in the federal budget negotiations, Congressional leaders clashed Saturday night as they tried to reach a new deficit-reduction agreement that Speaker John A. Boehner told colleagues could cut $3 trillion to $4 trillion in spending over 10 years. Read more

Markets Shiver Over Debt Gridlock
By David Wessel, The Wall Street Journal
Republicans and Democrats remain split on how much to increase the U.S. debt limit as the deadline looms, causing shivers across global markets. WSJ's Jake Lee, David Wessel and Peter Stein discuss. View

Waiting On A Debt Deal
By Eamon Javers, CNBC
CNBC's Eamon Javers has an update on political leaders meeting to discuss the debt ceiling and insight on how the markets will be reacting this week, with David Joy, Ameriprise Financial; Dan Greenhaus, BTIG. View

Working With A New Script To Head Off A Crisis
By John Harwood, The New York Times
The toughest legislative negotiations always resemble those old movies in which a terrified and helpless damsel lies bound to the railroad tracks. Read more

Debt-Limit Compromise Elusive As Separate Strategies Take Shape In House, Senate
By Lori Montgomery, The Washington Post
House and Senate leaders were preparing separate backup plans Sunday to raise the federal debt limit after another day of intense negotiations failed to break a partisan impasse that threatens to throw the government into default next week. Read more

Intra-GOP Wars Block Path To Debt Ceiling Accord
By Charles Babington, Associated Press
What if they yield, even a little? Call it GOP Primary Fear. A major hurdle to breaking the federal debt-ceiling impasse is the worry by House Republicans that they will invite primary election challenges from the right if they give ground to Democrats on the issue of higher tax revenues. Read more

Debt Talks Dissolve Again
By Naftali Bendavid, Carol E. Lee, and Corey Boles, The Wall Street Journal
Congressional talks dissolved in recrimination again Saturday night, as the latest proposal for cutting the deficit and raising the government's debt limit hit a wall with 10 days left before the U.S. begins defaulting on its obligations. Read more

A Boomlet Of Perrymania
By Doyle McManus, Los Angeles Times
For a man who hasn't formally decided whether to run for president, Texas Gov. Rick Perry sure sounds a lot like a candidate. Read more

By John Dickerson, Slate Magazine
A grand bargain on the debt ceiling has blown up, and the debate over who to blame has just begun.  Read more

Posted: Mon, 07/25/2011 - 12:00am