Mark Memmott

We know for sure that negotiations continue between the White House and the Republican leadership in Congress over how to extend the federal debt ceiling, trim federal deficits and start reducing (or at least stop its explosive growth) the $14+ trillion federal debt.

We began the day noting that one of Rupert Murdoch's own publications was describing him as "defiant" in the face of the snooping scandal that has engulfed some of his News Corp. newspapers in the U.K.

"We have a unique opportunity to do something big" and put the federal government's fiscal books in order for the next decade or so, President Obama said this morning at a White House news conference where he again laid out his view of where things stand in deficit-reduction talks with Republican leaders.

A year ago, U.S. dairy farmers were worried about a souring in demand for their products overseas. Mexicans weren't buying as much dehydrated milk. In China, demand was down for American pizza cheese.

Kirk Siegler of member station KUNC reported for All Things Considered that dairy farmers were having some of the toughest times they'd ever faced.

There was no change in output at the nation's manufacturers last month, the Federal Reserve just reported.

A flat June followed a scant 0.1 percent increase in May and a 0.5 percent decline in output in April, the Fed adds.

Another sign of sogginess in the factory sector: previously, the Fed had estimated that production rose 0.4 percent in May from April. The new estimate — of that 0.1 percent rise — marks a significant downward revision.