Daily Political Wire

George Wenschhof

White House Working on Budget Hybrid Plan - The plans put forward by House Speaker John Boehner and Senate Majority Leader Harry Reid are being rewritten after the CBO reported they did not reduce the deficit as much as they had stated. Meanwhile, questions remain as to whether Boehner can get the needed votes to pass his legislation in the House.

Over in the Senate, Majority Leader Harry Reid faces the uncertainty his plan will receive the needed votes in the Senate to pass.

This has led White House staff to begin crafting a hybrid plan which would incorporate aspects of both plans with hopes a vote could be obtained by Monday or Tuesday, which is the August 2 deadline for default. The Wall Street Journal has more here.

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Boehner's House Leadership in Question - the plan the House Speaker put forward not only did not survive scrutiny by the nonpartisan Congressional Budget Office. The plan is also being attacked by various factions within the Republican Party. Leading many to wonder if John Boehner will be able to continue as House Speaker if a resolution to the budget/deficit issue is not reached soon. TPM.com has a good read here on the splintering of the GOP on this issue.

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Britain Joins U.S. in Recognizing Rebels as Legitimate Government in Libya - This decision allows 150 million previously frozen in assets to now be released to the rebels. Peace talks continue with the possibility Gaddafi could stay in Libya if he steps down. The Washington Post has more here.

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Race For Wu's Seat Already Underway - even before Representative David Wu (D-Ore.) announced he would resign, candidates were positioning themselves for a run. Governor John Kitzhaber is who will determine the special election date. the two Democratic front-runners are state labor commissioner Brad Avakian and state senator Suzanne Bonamaci. Politico.com has more here.

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3,700 Post Offices To Close - as expected, the announcement made it official the closings will take place by 2015 to help meet the gap of 20 billion gap in revenue. CNN.com has more here.

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