Oh, and there was that Libby thing too

This morning, President Bush will visit with wounded military personnel at Walter Reed Army Medical Center in Washington, DC.

President Bush Meets With Russian President Vladimir Putin In Maine. "Both leaders seemed pleased at the tenor of the talks. 'Do I trust him? Yes, I trust him,' Bush said. 'Do I like everything he says? No. And I suspect he doesn't like everything I say. But we're able to say it in a way that shows mutual respect.'  For his part, Putin thanked Bush and his father, their host, for the 'very warm, homey' atmosphere at the meetings. ... Hadley said the Maine get-together was not designed to be a formal summit but rather 'an opportunity for the two leaders to spend time together informally.'  On Iran and its nuclear development, Bush said he and Putin are 'close on recognizing that we've got to work together to send a common message.'"  (David Jackson, "Talks 'Very Substantial,' Putin Says," USA Today, 7/3/07)

OMB Director Rob Portman Describes Administration Initiatives To Bring New Transparency and Accountability To Government Spending.  "To ensure greater accountability for government spending, the administration launched a project in 2002 to publicly assess every federal program. People can now visit www.expectmore.gov to see detailed information on the performance of federal programs representing 96% of all federal spending. ... In addition, the administration has recently posted an unprecedented earmarks database at www.earmarks.omb.gov. ... The goal of this new database is to shine a bright light on spending and to establish a clear benchmark from which to measure the president's goal of cutting earmarks by half. ... All of these initiatives are part of an ongoing effort in the administration to provide greater transparency, hold government accountable, and deliver results for taxpayers."  (Rob Portman, Letter, "More Windows Opened on Government Spending," The Wall Street Journal, 7/3/07)

Iraqi Cabinet Approves Draft Of Oil Law.  "Prime Minister Nouri al-Maliki's Cabinet has approved a draft of a key oil law, and the Iraqi parliament was expected to begin debate on the measure Wednesday, an official said. ... The United States has pressed al-Maliki's government to pass the oil law, which will define distribution of Iraq's oil revenues, a top concern of Sunni Arabs, who populate regions of Iraq that are largely without oil resources. The bill is one of several pieces of benchmark legislation the U.S. seeks to promote reconciliation among Iraq's sectarian and ethnic groups."  ("Iraq Cabinet Approves Draft Of Oil Law," The Associated Press, 7/3/07)

U.S. Manufacturing Sector Set To Expand.  "The nation's factories, plants and utilities expanded at a faster pace in June, suggesting hardy consumer spending is boosting confidence among manufacturers even as prices for raw materials rise. The Institute for Supply Management said Monday that its manufacturing index rose to 56 in June. The reading marked the fifth consecutive month of growth for the manufacturing sector and the 68th consecutive month of growth for the overall economy.  The reading was above the May reading of 55 and higher than the market expectation of 55.4."  (Candice Choi, "U.S. Manufacturing Sector Set To Expand," The Associated Press, 7/2/07)

Stocks Post Strong Gains On Positive Economic News.  "Several common fears held by investors were dashed Monday, opening the way for stocks to post strong gains for the day.  Worries that economic growth is sputtering were silenced after the Institute for Supply Management showed that manufacturing in June was stronger than expected and up from May. Concerns about rising interest rates eased as the yield on the 10-year Treasury note fell below 5%, ending at 4.99% vs. 5.14% Friday. And the buyout of Canadian telecom company BCE quelled worries that the merger boom will soon end. ... Those three factors combined to propel stocks. The Dow Jones industrial average opened the third quarter by gaining 126.81 points to 13,535.43, pushing it up 8.6% for the year."  (Matt Krantz, "Stocks Rally On Deals, Busy Factories," USA Today, 7/3/07)

Treasury Department Financial Sanctions Proven To Have "Extraordinary Reach."  "But American officials say that Treasury Department financial sanctions are now proved to have an extraordinary reach, with implications for sanctions imposed and likely to be tightened for other countries, from Iran to Sudan.  'Our financial tools are sometimes the most powerful weapons our government has to help change behavior,' said James R. Wilkinson, chief of staff at the Treasury Department. 'At the end of the day after this transaction, the diplomacy is moving forward and the world now sees just how powerful Treasury’s financial tools really are.' ... 'You can be sure that other countries like Iran will be drawing lessons from North Korea,' said a senior administration official. 'What Banco Delta Asia demonstrates is that once you find yourself in this tar pit, it’s almost impossible to extract yourself. That has huge implications for banks we’ve targeted in Iran.'"  (Steven R. Weisman, "The Ripples Of Punishing One Bank," The New York Times, 7/3/07)

Afghan And NATO Forces Kill 33 Militants In Southern Afghanistan.  "Afghan and NATO forces clashed with Taliban militants in a dangerous southern region overnight, leaving 33 suspected insurgents dead, the provincial governor said Tuesday.   The joint forces carried out the nighttime operation in the Zhari district of Kandahar, said provincial governor Asadullah Khalid. Four other suspected militants were arrested. There were no casualties among Afghan or NATO forces, he said. ... Elsewhere, U.S.-led coalition troops killed a suspected militant and detained two others during an operation in eastern Afghanistan Tuesday, officials said."  (Noor Khan, "Afghan, NATO Forces Kill 33 Militants In Southern Afghanistan," The Associated Press, 7/3/07)

Afghan Justice Conference Meets In Rome.  "The U.N. chief, the Afghan president and other top officials gather in Rome this week to discuss how to strengthen Afghanistan's frail justice system amid the country's violence.  The conference on Monday and Tuesday will examine a legal system largely destroyed by more than 25 years of violence. From reconstructing buildings destroyed by fighting to training magistrates, the challenges to establishing the rule of law in Afghanistan are enormous, experts say. ... Assistant Secretary of State Richard Boucher, NATO's Secretary General Jaap de Hoop Scheffer and Tom Koenigs, the top U.N. official in Afghanistan, also will be among the participants, the Italian Foreign Ministry said."  (Alessandra Rizzo, "Afghan Justice Conference Meets In Rome," The Associated Press, 7/2/07)