The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. Click on the headlines for more.
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CNN: Debt fallback plan gains momentum as GOP plans symbolic votes
Top administration and congressional officials are expected to continue working this week on a measure to raise the federal debt ceiling by up to $2.5 trillion, embracing a version of a fallback plan designed by Senate Minority Leader Mitch McConnell to avoid a potentially catastrophic default.
CNN: Debt gang to unveil plan to other senators Tuesday
Members of a bipartisan group of senators who worked for months to forge an agreement to make deep reductions in the federal debt will unveil a plan to slash trillions of dollars off that debt over the next 10 years. The former Gang of Six members will reveal their plan privately Tuesday to a group of 40 to 50 senators.
CNN: Coburn offers his own budget plan
Sen. Tom Coburn, R-Oklahoma, released his version of a budget plan Monday, saying his ideas would save the country $9 trillion over 10 years. …The plan, titled "Back in Black," includes cuts to the Department of Defense, entitlement reforms, and shutting down the Department of Education.
New York Times: Dodd-Frank Under Fire a Year Later
Timothy F. Geithner, the Treasury secretary, expressed the general good feeling among Obama administration officials on Monday, saying that the financial system was “on more solid ground” than at any time since before the crisis in 2008. But there remain signs that the tightened regulatory measures could still be undone, creating uncertainty about whether the actions that have helped to stabilize Wall Street will be in place when the next crisis hits.
CNN: 'Fast and Furious' gun program draws Hill demand for documents
In a demand for fast - if not furious - action, Congressional investigators have given the FBI and the Drug Enforcement Administration just one week to produce documents to aid their investigation of a controversial gun-purchasing operation by the Bureau of Alcohol, Tobacco, Firearms and Explosives.
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CNN: 'Dangerous' heat wave creeps east
The "dangerous" heat wave baking the central United States is expected to extend its reach eastward in the coming week, and ultimately cover most of the eastern part of the country, the National Weather Service said Monday. …Much of middle America has been suffering with temperatures rivaling those in Death Valley for days.
Bloomberg: Georgia Panel Empowered for Immigration Crackdown
Georgia mayors, county commissioners and even business-license clerks may face $5,000 fines from a panel of state-sanctioned volunteers empowered to investigate complaints about compliance with a new immigration law. …The first-of-its-kind Immigration Enforcement Review Board is part of a law that took effect July 1, making Georgia one of six states that have taken immigration enforcement duties into their own hands.
CNN: 2 Atlanta educators step down; 176 others also face ultimatum
Two Atlanta Public Schools educators stepped down Monday after being issued an ultimatum last week to quit or be fired. …They were among 178 Atlanta Public Schools employees, including 38 principals, whose jobs are on the line after allegedly being involved in a widespread standardized-test cheating scandal that has caught the attention of federal officials.
Minneapolis Star Tribune: Secrecy reigns at State Capitol
Five days after DFL Gov. Mark Dayton and Republican leaders struck a tentative e deal to end Minnesota's government shutdown, nearly all of the talks to finalize a budget proposal have taken place in private, blocking out the public and raising questions about whether legislators and the administration are violating the law.
Austin American-Statesman: Report questions effectiveness of school discipline
A majority of Texas students followed during a six-year study were suspended or expelled during their middle and high school years, with the discipline falling disproportionately on African Americans and those with educational disabilities. Those were the key findings of an unprecedented study of nearly 1 million students in a report released today by the Council of State Governments Justice Center and the Public Research Institute of Texas A&M University.
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CNN: Will lawmakers draw blood from Murdoch?
News Corp founder Rupert Murdoch, his son James and former News International chief executive Rebekah Brooks are set to appear in parliament on Tuesday to answer questions about the phone hacking scandal that has convulsed Britain.
CNN: U.S.-Libya talks were one-time event, Washington says
Libyan and U.S. officials say the two governments held face-to-face talks in Tunisia over the weekend, but Washington says the sole point of the meeting was to repeat its demand that Libyan leader Moammar Gadhafi "must go." …Libyan government spokesman Musa Ibrahim called Saturday's talks "a first step," adding, "we welcome further steps."
CNN: Rights Group: Security forces kill seven civilians in Syrian town
Security forces killed at least seven civilians in the western industrial city of Homs amid continued sporadic fire into Tuesday morning, a human rights group and eyewitnesses said. Security forces backed by the army fired heavily at people on the street in at least six neighborhoods populated by mostly Sunnis, according to the Local Coordination Committees of Syria, an umbrella group organizing locals and eyewitnesses through the Internet.
Wall Street Journal: Al Qaeda Seen Aiming at Targets Outside U.S.
Al Qaeda is expected to shift strategy under new leader Ayman al-Zawahiri, placing a higher priority on attacking the U.S. and Western targets overseas, where plots are easier to execute than on the U.S. homeland, say U.S. officials. This broader attack strategy advocated by Mr. Zawahiri better aligns the goals of al Qaeda's leaders in Pakistan and affiliates, particularly in Yemen, which are increasingly becoming the group's frontline operators.
CNN: Taliban video shows execution of Pakistani men
Graphic video footage released Monday by the Taliban shows the execution of at least 16 men believed to be Pakistani police officers - a new escalation in the fight for control of a pivotal country in the global war over Islamic extremism. Seventeen men were executed in total, according to Pakistan's government.
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CNNMoney: Borders liquidates: 10,700 jobs lost
Borders Group will liquidate its remaining assets after efforts to find a buyer fell through, the bookstore chain announced Monday. The nation's second largest book seller, which filed for bankruptcy protection earlier this year, currently operates 399 stores and employs approximately 10,700 workers.
Financial Times: Investors head for havens in debt storm
Gold burst through $1,600 an ounce for the first time as the eurozone's escalating debt crisis sent fear through financial markets. Markets turned up the pressure on European leaders ahead of a crunch summit on Thursday, with bank shares plummeting and Italian and Spanish borrowing costs hitting new euro-era records.
CNNMoney: Cisco to axe 16% of its workers
Cisco announced plans on Monday to lay off 9% of its workforce and to transfer another 7% of its staff to another company in a sale of one of its businesses. The networking giant said it would hand out pink slips to 6,500 employees, including 2,100 who volunteered for early retirement packages.
In Case You Missed It…
CNN's Wolf Blitzer talks to White House adviser Elizabeth Warren about the political controversy surrounding her.
Debt plan, clearly the one that has most chance of passing any House and Senate in votes is the Obama big plan.. ( Boehner at one time seemed agreeable).
The rest are temporary ineffective solutions and pure politics where Republicans and Democrats have to decide how those temporary politics of ideological and not bi partisan approaches will fare in 2012!?
Hey ho ,pundits put your prediction caps on 50 % about will be right and 50% about wrong.
PS pundit prediction. Republicans get slaughtered in the House but do better in Senate ( not majority) and Obama is still President.