Posted by Ryan Faughnder

For Marketplace Morning Report, Mon., Aug. 1, 2011

The markets jumped with relief at the beginning of the day with the new deal in Washington to raise the debt ceiling, but shrunk back later. The new debt compromise includes no new taxes. We ask David Gura about the possibility of tax reform in the near future. Will the weak economy be able to digest the budget cuts? A credit rating downgrade may still be coming, despite efforts at debt reduction. And how will the military deal with cuts to its budget? We ask what $350 billion means to the Pentagon. The NBA lockout talks continue. And a new study shows that intra-city bus lines like BoltBus and Megabus are stealing passengers from Amtrak and even airlines.

Here are the songs we played:

• Late Shift — The Hard to GetBuy

• The Dreaming Mind — Quantic And His Combo BarbaroBuy

• Gotta Be Something — D-TensionBuy

• Homecoming — Kanye WestBuy

• Funk Infected — DJ DrezBuy