A Bunch of Bologna, Debt and Lunch, Edwards Rests, Karl's VP Line (PM Note) Mary Kennedy, Ex-Wife or RFK Jr., Dies - http://abcn.ws/LTDMaR Senate Rejects House Budge; House Rejects Obama Budget Plan - http://abcn.ws/K8vtq5 But everyone gets a sandwich. A Bunch of Bologna - Call it the sandwich summit, or Hoagie Diplomacy or Obama buys and Boehner flies or whatever - the president went out to get $62 worth of sandwiches this morning that he then served to Congressional leaders in the state dining room over a private conversation about legislative priorities. http://abcn.ws/KgqeCH But at the end of the day today's working lunch may have been full of empty carbs. It was seasoned by Boehner's comments yesterday about the (again, already?) debt ceiling debate. And it was preceded by the President's trip to a sandwich shop in front of TV cameras with public statements about his "to do" list for Congress and by a press conference from Boehner on Capitol Hill - http://abcn.ws/KP3pKh Afterward, there were a quartet of squishy talking points from the four attendees, some outlining what they will and won't accept and others talking exclusively about the need to work together. Boehner "laid down an ultimatum for President Obama today over lunch with congressional leaders, telling the president that as long as he serves in Congress, he will not allow the debt limit to be increased without serious reforms," according to a readout provided to John Parkinson. http://abcn.ws/MlBzaZ Obama had his own ultimatum, according to Jay Carney - "The president reiterated that any serious bipartisan approach to tackle our deficit must be a balanced approach, and he made clear his willingness to work with Republicans and Democrats to stake out an agreement along those lines, but was just as clear that he would not accept an approach that asks middle-class families and senior citizens to make sacrifices without asking for anything more from millionaires and billionaires." http://abcn.ws/IZRabH Mitch McConnell's take - "We all agreed that rates shouldn't go up this year and that we need to resolve the differences and pass legislation together." Meanwhile, as Tapper Pointed out to Carney, there's a Pending $8 Trillion Trainwreck - http://abcn.ws/JkhImt The Edwards Defense Rests - No testimony from Cate, John or Rielle - http://abcn.ws/IZRabD A Glimpse Inside Rielle's World - An indication of why she the defense didn't call her to the stand is in Russell Goldman's lede - "She had him at "You are so hot." Except for the part about possible jail time. http://abcn.ws/JhrXyq Fact-Checking Crossroads $25 million Anti-Obama Ad Campaign "Broken Promises" - Devin Dwyer finds some true claims, some half truths, and one totally misleading items in the Crossroads GPS ad that accuses President Obama of failing to deliver on underwater mortgages, keeping health reform promises, raising taxes and cutting the deficit - http://abcn.ws/KccXwt Joe Biden Riled Up - http://abcn.ws/J8MWSy Romney on Bain and his Jobs Record - "They said, "Oh, gosh, Governor Romney at Bain Capital closed down a steel factory." But their problem, of course, is that the steel factory closed two years after I left. Bain Capital was no longer there, so that's hardly something that's on my watch. And of course they don't mention a couple of other things. One is, we were able to create over 100,00 jobs, and secondly, on the president's watch, about 100,000 jobs were lost in the auto industry and auto dealers and auto manufacturers. So you know, he's hardly one to point a finger, and oh, by the way, he has no problem going out and doing fundraisers with Bain Capital and private equity people." http://abcn.ws/LTDNvz Bill Bradley - Draft Character, Not Statistics - A Power Players Top Line Outtake - http://abcn.ws/JIcgNT Jon Karl's VP Line - Karl has a top tier and a second tier of potential VPs for Mitt Romney - Paul Ryan is the biggest mover since Karl last updated the list. He has risen into the top tier with Portman, Rubio and Jeb Bush. Chris Christie is still mired down in tier two. His newest company there? Kelly Ayotte, for the all-Northeast ticket. And Tim Pawlenty is promoted from wildcard to second tier. Bobby Jindal comes from nowhere to Karl's second tier. But we're most intrigued by his list of wildcards, which includes CIA Director David, who would have to pull a full Huntsman, and Mike Huckabee, who hasn't been as vocal recently. Karl's Latest Ratings - http://abcn.ws/JKQ8kX For comparison, his original ratings - http://abcn.ws/MlBxju The Latest Veep Beat Newsletter - Chris Christie's Digital Short - http://abcn.ws/LTDNvA NJ Voters Don't Think Christie Would Enjoy VP - http://abcn.ws/KgqcLf On Display at the Pentagon - OBL's Compound - http://abcn.ws/IZiqHw Places to Do It in Politics - Elevator - George W. Bush Rally - John McCain Abstain - Ron Paul Over and Over Again - Herman Cain More from Matt Negrin - http://abcn.ws/J8MWSz Herman Cain's Endorsement Saga - What About Endorsing the American People? - http://abcn.ws/JhrXOK FBI Investigates Media Leaks in Yemen Bomb Plot - http://abcn.ws/JOpZlu Manny Pacquiao Opposes Gay Marriage - Big Time - http://abcn.ws/JkhJqp