HEADLINES
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Obama insisted Friday that any debt plan must include new tax revenue in, and the Senate rejected a bill from the GOP-controlled House.
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Reid said Friday that Senate will not be in session this weekend.
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The rift between the Obama and congressional Dems highlights their differing approaches to the 2012 election.
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The House beat back an effort to slash funding for the Office of Congressional Ethics.
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The Consumer Financial Protection Bureau opened Thursday during political debate over the structure of the agency.
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BEHIND THE GOVERNMENT SHOWDOWN
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QUOTE OF THE DAY
President Obama, on creating a deficit-reduction deal that includes increased tax revenue:
"This idea of balance, this idea of shared sacrifice, of a deficit plan that includes tough spending cuts but also includes tax reform that raises more revenue, this isn't just my position. This isn't just a Democratic position. This isn't some wild-eyed socialist position."
COMMENT OF THE DAY
ricklinguist, on Ed O'Keefe and Craig Whitlock's "Pentagon ready to allow gays to serve openly" story:
I believe the proper response when someone, gay or straight, is willing to risk his [or her] life to protect your freedoms and the country we all love is...'Thank you.'
Q&A DISCUSSIONS
Chris Cillizza was online at 11:00 a.m. ET to discuss the week in politics:
Q: Is Mitt Romney going to have to engage in this primary race? The last couple of months, he has seemingly been allowed to stay above the fray while the rest of the GOP candidates fight for his scraps. I mean, even Thomas Dewey had to say "Our rivers are full of fish" in the 1948 campaign.
Chris Cillizza:
He will — at some point. But I tend to think his current approach is really smart. Why wade into a race where you are the clear frontrunner? How does engaging with Michele Bachmann at this point work in Romney's favor? I think it's a testament to how good a campaign Romney has run so far that every Democrat I talk to privately expresses admiration for how he's done.
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MULTIMEDIA
Video: Obama talks about the challenges of debt negotiations
During a town hall Friday at the University of Maryland, President Obama said debt negotiations are challenging but he's willing to compromise.
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