The Note’s Must-Reads for Wednesday, August 10, 2011

By Jayson

Aug 10, 2011 3:08am

The Note's Must-Reads are a round-up of today's political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at

Compiled by ABC News Digital News Associates Jayce Henderson, Jacqueline Fernandez and Desk Assistant Amanda VanAllen

The New York Times’ Helene Cooper: “A Test for Obama’s View of a One-Term Presidency” It was a year and a half ago when President Obama told Diane Sawyer of ABC News in an interview that he would rather be a good one-term president than a mediocre two-term president. LINK

The Wall Street Journal's Jonathan Weisman and Katie Glueck: "With Base Restless, Obama Toughens Tone" Democrats across the U.S., watching a roiling stock market and a stagnating economy, say President Barack Obama needs a message and policy response as big as the crisis moment the nation is facing. Adjusting his tone amid those complaints, Mr. Obama is toughening his demands for short-term jobs spending and drawing sharper contrasts to his Republican opponents both in Congress and on the presidential campaign trail. LINK

Bloomberg's Candice Zachariahs and Masaki Kondo: "Dollar Rallies as Fed Statement Fails to Calm Concern Over Slowing Growth" The dollar rose against the majority of its major counterparts as the Federal Reserve’s pledge for record low interest rates failed to convince investors global growth will be sustained, boosting demand for haven currencies. The U.S. currency held a three-day decline against the yen before Fed Bank of New York President William C. Dudley is due to speak on the regional economy on Aug. 12. LINK

ABC News’ Shushannah Walshe: “Wisconsin Recall Vote Could Embolden Dems, Limit GOP Cost-Cutting” Wisconsin voters head to the polls today in six recall votes that both political parties stress have implications not just for the Badger state but the entire country.  Outside groups on both sides have poured in millions of dollars for television advertising and get-out-the-vote efforts. LINK

The Hills’ Mike Lillis; “Exasperated House liberals back Pelosi, point finger at President Obama” Frustrated liberals are standing behind House Minority Leader Nancy Pelosi (D-Calif.), even though she has not attempted to torpedo bills that they strongly opposed. Dozens of House Democrats this year have defected on high-profile bills on funding the government and raising the debt limit, ostensibly giving Pelosi and her liberal-leaning caucus leverage. LINK

Los Angeles Times’ Peter Nicholas: “2012 race ripe for third-party surprise, Carville says” For sheer tumult and unpredictability, the 2012 campaign may top them all, says James Carville. Carville, of course, is the Democrat who masterminded Bill Clinton’s winning campaign in 1992. That race was hardly dull, with Ross Perot waging a competitive third-party bid and incumbent President George H.W. Bush losing office to the young upstart from Hope, Ark. LINK

USA Todays’ Susan Page: “Poll: Will anti-Congress mood cause another 'wave' election?” Another "wave" election that could dramatically change the capital's political makeup may be building, a USA TODAY/Gallup Poll finds. Only 24% of those surveyed say most members of Congress deserve re-election, the lowest percentage since Gallup began asking the question in 1991. LINK

The Washington Post’s Rosalind Helderman: “Harry Reid names three to debt-reduction panel” Senate Majority Leader Harry M. Reid (D-Nev.) has selected Sen. Patty Murray of Washington to serve as co-chair of a new congressional committee charged with reducing the debt, Reid’s office announced Tuesday. LINK

New York Daily News’ S.E. Cupp: “If Tea Party Republicans don't act fast, they will lose the debt message war” On Feb. 19, 2009, CNBC host Rick Santelli had a bit of a breakdown. In a live broadcast from the floor of the Chicago Board of Trade, he went on a now-infamous rant against the Obama administration's mortgage bailout plan, calling for a Chicago "tea party." A few days later, after the clip had gone viral, a post on innocently asked its readers, "Should America join Santelli's 'Tea Party' protesting mortgage relief?" If only they knew then what we all know now. LINK

The Washington Times’ Sean Lengell: “Senators seek help on aviation funding” A group of Senate Democrats has urged House Speaker John A. Boehner to begin negotiations on a long-term aviation funding package well ahead of a mid-September deadline in order to avoid another disruption of airport projects. LINK

Politico's Dan Hirschhorn: "Wisconsin GOP holds on to Senate" Wisconsin Republicans withstood a Democratic campaign to take control of the state Senate Tuesday, surviving in four of six recall elections that were sparked by Gov. Scott Walker’s contentious push for public labor law reforms. Democrats needed to win at least three races to capture control of the narrowly divided chamber. LINK

Former Obama Aides Less Optimistic on EconomyLINK

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