Harry Reid’s debt deal proposal gives the Republicans so much of what they’ve been seeking that they’ve been caught flat-footed. So, yeah, it’s not the kind of tactical surprise you usually shoot for in negotiations.

Matt Yglesias is perhaps a bit more sanguine about Reid’s gambit.

Rep. David Wu (D-OR) is resisting calls to step down but apparently has agreed not to seek re-election. In the meantime, Minority Leader Nancy Pelosi (D-CA) has referred the sexual assault allegations against him to the House Ethics Committee.

China might not hold as much U.S. debt as you think.

If you’re shaking off the cobwebs from a few days at the beach and trying to figure out what happened over the weekend on the debt talks, it’s almost easier to ignore what happened the last three days and just fast forward to where we are now.

Still no deal. Still no sign that a deal is imminent.

So where does that leave us? Read More

Jell-o-like memory storage technology holds promise for new medical technologies.

Global indices were mostly down Monday but nothing approaching a market-wide upheaval.

Ezra Klein: Republicans have won but can they stop there?

Dems to GOP: If we give you everything you want, will you finally raise the debt ceiling?

Not sure whether the headline from Harry Reid’s statement below is “Talks Break Down — Again” or “Democrats Agree To Nearly $3 Trillion In Cuts With No Revenue Increases”: Read More

We’ve got a better read now on what went down during Speaker Boehner’s conference call with House Republicans late this afternoon.