John King, USA

The latest political news and information on the most important stories affecting you.
July 6th, 2011
02:37 PM ET

Be in the know: Today's political bullet points

RedState.Com Editor Erick-Woods Erickson:

– Yesterday, David Brooks in the New York Times said the Democrats are proposing $4 trillion in cuts in exchange for some tax increases. He even hinted at entitlement reform. Delaware Senator Chris Coons said the same. The problem is that Republicans have not heard of this mythical deal with entitlement reform on the table. In fact, if you go back to Christmas 2010 or even the continuing resolution, we've seen the Democrats do this repeatedly. They say there is a deal, they get the media to say there is a deal but for Republican holdouts, and then they wait for the GOP to bite. But there is no deal.

– Also yesterday, David Brooks said the tax increases the Democrats sought were only a "few hundred million" dollars worth of tax increases. The New York Times had to correct it. It's "billion" – not "million."

– While President Obama is demagoguing "corporate jets," does he have any sense of what happened to the yacht industry in the early 90s? The tax increases on yachts did not hurt the rich. It hurt the ship builders. Does the President not care for Gulfstream employees in Georgia who'd be hurt? Blogger/Founder Jane Hamsher:

David Brooks Is Disgusted . . . With the Wrong People

Fear of Credit Default Swaps Used to Protect Stupid Banks

Possible Explanations for Republicans Not Taking Sweetheart Debt Limit Deal

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