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In a statement today, the White House announced that the President would speak at 9pm tonight about “the stalemate in Washington over avoiding default and the best approach to cutting deficits.”

Latest tick-tock:

The Hill — Conservatives Denounce Boehner Plan

Ezra Klein — “Republicans have won. But can they stop there?”

NY Times — Senate and House Split as Obama Is to Address Budget

Huffington Post — Harry Reid’s Debt Proposal Will Leave Entitlement Benefits Untouched – “House Speaker John Boehner (R-Ohio) is charting a decidedly different path, one that would require two votes and the creation of a powerful deficit reduction committee to suggest future entitlement reform.” (Oops! Reid has a Catfood II Super Congress too.)

White House endorses Reid plan — “Senator Reid’s plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America can avoid defaulting on our obligations for the first time in our history. The ball is in their court.”

Lieberman blasts Reid budget — “I don’t think it’s a real cut,” Sen. Joe Lieberman (I-Conn.) told POLITICO. “It’s like a bookkeeping cut. It goes to an artificially high [Congressional Budget Office] number to just what we assume will be a reduction in overseas contingencies fund because we’re drawing our troops out of Iraq and Afghanistan.”