HEADLINES
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A look at what each of the major figures in the debt debate have to gain (and lose) politically.
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House and Senate leaders unveiled dueling backup plans Monday afternoon after negotiations failed Sunday to break a partisan impasse.
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For the past four years, Cantor has led the House on fighting changes in the tax code affecting investment groups.
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Bachmann has begun to attack Pawlenty after largely ignoring him for the last month.
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Gingrich's personal finance report confirms that his Tiffany's credit line has been closed.
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BEHIND THE GOVERNMENT SHOWDOWN
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QUOTE OF THE DAY
Kent Romney, Mitt Romney's relative from Mexico, on the possibility of the 2012 presidential race being dominated by discussions of Mitt Romney's Mormon beliefs:
"I just hope the American people will see through the rhetoric and vote for someone based on their merits, not their religion. Mormonism doesn't have the same stigma here in Mexico as it does in the U.S."
COMMENT OF THE DAY
B_Al_Zebub, on Chris Cillizza's "Is there a third (party) way?" story:
Third party candidates only help elect the person you want least. There are only two basic governing philosophies in this country. A third party would only split one, or the other, leaving the minority view to take power.
Q&A DISCUSSIONS
Chris Cillizza was online at 11:00 a.m. ET to discuss the 2012 presidential election:
Q: What's a bigger challenge for Rick Perry in 2012 primaries (if he runs): Beating Romney in fundraising or Beating Bachmann in Iowa? (From Adam in Washington, D.C.)
Chris Cillizza:
I think the bigger challenge is beating Romney in fundraising because I don't think anyone's going to do that, Adam. The thing to remember there is Mitt Romney is a self-funder, too, in addition to being able to raise a bunch of money.
» View full Q&A session
MULTIMEDIA
Video: Debt ceiling: Clinton reassures Hong Kong investors
Betty Nguyen reports on Secretary of State Hillary Clinton's efforts to reassure foreign markets that a deal will be made in the debt ceiling talks to avoid default.
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