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TPMDC Morning Roundup

Biden's Day Ahead
Vice President Biden will join President Obama's meeting with the Senate Republican Caucus at 11 a.m. ET, and he meet with Obama for lunch at 12:30 p.m. ET. Then at 1:50 p.m. ET, Obama and Biden will honor the National Association of Police Organizations Top Cops. At 2:30 p.m. ET, Biden will host a meeting at Blair House with a bipartisan, bicameral group of members of Congress to continue work on a legislative framework for comprehensive deficit reduction.

'Big Oil' Faces Grilling In Congress
AFP reports: "With Americans furious at sky-high gasoline prices and tax breaks for 'Big Oil' under fire, a key US Senate committee will put five senior oil executives in the dock on Thursday. The bosses of Chevron, Shell US, BP America, ConocoPhillips, and ExxonMobil will be dragged before the powerful Senate Finance Committee, where they will face allegations of banking record profits at taxpayers' expense."

Obama Urges Senate Democrats To Remain Open To Debt-Ceiling Negotiations
The Washington Post reports: "President Obama urged members of his party Wednesday to avoid declaring absolute positions in the debate on increasing the federal debt ceiling, a day after House Speaker John A. Boehner (R-Ohio) said that tax increases were 'off the table' as part of any agreement. In an hour-long session with Senate Democrats at the White House, Obama told his former colleagues not to 'draw a line in the sand' in negotiations, said Senate Majority Leader Harry M. Reid (Nev.). Showing an unwillingness to compromise, Obama said, would not only limit the ability to reach a deal with Republicans but could also have a negative impact on financial markets."

Obama Seeks Reset In Arab World
The New York Times reports: "For President Obama, the killing of Osama bin Laden is more than a milestone in America's decade-long battle against terrorism. It is a chance to recast his response to the upheaval in the Arab world after a frustrating stretch in which the stalemate in Libya, the murky power struggle in Yemen and the brutal crackdown in Syria have dimmed the glow of the Egyptian revolution...The first sign of this 'reset' could come as early as next week, when Mr. Obama plans to give a speech on the Middle East in which he will seek to put Bin Laden's death in the context of the region's broader political transformation."

His Budget Plan Under A Spotlight, Ryan's Political Stock Takes Hit
The Hill reports: "Rep. Paul Ryan's political stock has taken a hit in recent weeks as his constituents, Democrats and even some Republicans have ripped his controversial budget blueprint. Earlier this year, Ryan (R-Wis.) said he knew the GOP was leading with its chin by releasing such an aggressive budget-cutting plan. Now Ryan and his colleagues are facing questions about whether they can take a punch, or if they have a glass jaw."