Daily Political Wire

George Wenschhof

Neither Side Blinking on Budget - the House plans to vote today on the revised Boehner

Boehner's plan has come under fire from conservatives as well, so the vote is likely to be close today. Due, to a few vacancies, 217 votes are needed for passage in the House.

Meanwhile, the Senate Democrats have vowed to defeat the Boehner bill. Tuesday is default day, so a compromise bill will need to be crafted quickly.

Stocks took a tumble yesterday so keep an eye on them today as this saga continues to unfold.

Stay Tuned...

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U.S. and North Korea Begin Nuclear Talks Today - two days of talks are expected to be held at the U.N. building in New York. Talks broke off years ago with North Korea over nuclear disarmament and allowing nuclear inspectors within their country. You can read more on the developments here.

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Bipartisan Commission Redraws California Congressional Districts - Democrats are expected to pick up one to three seats overall. However, with the new proposed districts, as many as thirteen districts may be in play.

The bipartisan commission was established by a ballot proposition last year. Their recommendations will be made public tomorrow and after a two week period will go into effect. A challenge to their proposal is not expected. TheHill.com has more here.

An interesting and fair approach to the required redistricting. Political Parties in power, have long used this opportunity to strengthen their majorities.

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Exxon Profit Up 41% - They made 10.68 Billion in the second quarter up from the 7.56 Billion in the second quarter last year. Reuters.com has more here. bill which would raise the debt ceiling, with corresponding cuts in spending, in a two-stage process. The two-stage process not acceptable to President Obama.

While the working men and women around the world continue to suffer, Exxon continues to earn incredible profits.

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Unemployment Claims Drop Below 400,000 - for the first time since April, initial claims fell below 400,000. A bit of good news for the struggling economy. CNN.com has more here.

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Obama Administration and Automobile Industry Agree on Fuel Efficiency Standards - through 2025. By 2025, U.S. vehicle fleets would need to average 54.5 miles per gallon. This would represent a 50% cut in greenhouse gases and a 40% reduction in fuel consumption. The Washington Post has more here.

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