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• Perry Generates Buzz, but Expected Late Entry in GOP Race Could Hurt Chances - Fox News
The fanfare and hype surrounding Rick Perry's likely entry into the GOP presidential primary race may help the Texas governor make up the ground he lost with a late start. But presidential primary history also suggests a Perry-come-lately is no sure bet either.
• Obama, Bernanke and economic team huddle amid market turmoil - The Hill
President Obama and his economic team met Wednesday with Federal Reserve Chairman Ben Bernanke as volatility continued to haunt the markets.
• Federal deficit tops $1T for 3rd straight year - Washington Times
The nation's budget deficit has topped $1 trillion for a third straight year, adding pressure on Congress and the White House to make more progress on a long-term plan to shrink the growing imbalance.
• Wis. GOP's stand could reverberate elsewhere - Washington Times
A stand by Wisconsin Republicans against a massive effort to oust them from power could reverberate across the country as the battle over union rights and the conservative revolution heads toward the 2012 presidential race.
• Crude bomb left on Oklahoma gas line, FBI says - CNN
FBI agents are looking into who left what appeared to be a crude explosive device attached to a natural gas line in rural Oklahoma, the bureau said Wednesday.
• Republicans Set Debt-Panel Roster - Wall Street Journal
Republican House and Senate leaders named six conservative diehards Wednesday to the new deficit-cutting committee, but the appointees' histories suggested they might be open to striking a deal with Democrats.
• Reid: Cantor should not be in debt limit talks - AP
Senate Majority Leader Harry Reid says House Majority Leader Eric Cantor should not be part of the debt limit negotiations. He's calling the Virginia Republican congressman "childish."
• Bernanke: Cutting too much too soon could hurt U.S. - Reuters
U.S. Federal Reserve Chairman Ben Bernanke warned Congress on Thursday that overzealous cuts to government spending in the short term could derail an already fragile recovery and said a U.S. debt default may wreak financial havoc.
• Religious Freedom Group Sues Perry Over Planned All-Day Prayer Event in Texas - Fox News
A Wisconsin-based religious freedom group is suing Texas Gov. Rick Perry, a possible Republican presidential contender, in an effort to block his promotion of and participation in an all-day Christian prayer event to be held Aug. 6, arguing that it violates the constitutional separation of church and state.
• Moody's Places U.S. on Review for Downgrade As Debt Talks Stall - Bloomberg
Moody's Investors Service put the U.S. under review for a credit rating downgrade as talks to raise the government's $14.3 trillion debt limit stall, adding to concern that political gridlock will lead to a default.
• President Obama abruptly walks out of talks - Politico
President Barack Obama abruptly walked out of a stormy debt-limit meeting with congressional leaders Wednesday, a dramatic setback to the already shaky negotiations.
• House boosts military budget in time of austerity - MSNBC
Money for the Pentagon and the nation's wars in Iraq and Afghanistan is proving largely immune from the budget-cutting that's slamming other government agencies in the rush to bring down the deficit.
• As Obama negotiates in public, GOP digs in - Politico
Republicans dug in deeper against adding tax revenues to any deficit reduction package Monday, suggesting that just voting for a debt ceiling increase qualifies as "shared sacrifice"and even taunting President Barack Obama by saying that if he feels compelled to pay more taxes, "he can write a check anytime he wants."
• Obama wooing of Boehner falls on deaf ears - Washington Times
Flattering House Speaker John A. Boehner publicly, President Obama on Monday tried to reel in the reluctant Republican House leader to support the president's goal of a large tax increase to help reduce deficits.
• Ala. churches leading opponents of immigration law - USA Today
For some, opposing Alabama's toughest-in-the-nation law against illegal immigration is a chance for Bible Belt redemption.
• Record temperatures seen as heat wave plagues 23 states - CNN
A heat wave is building and could reach dangerous levels in parts of the Midwest, the Plains and the Southeast this week.
• Obama: Job Losses Prove Stimulus Worked - CNS News
Three days after the U.S. Department of Labor reported that the national unemployment rate had ticked up from 9.1 percent in May to 9.2 percent in June, President Barack Obama said that the loss of jobs in the public sector is "evidence"that his $830-billion economic stimulus legislation worked.

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