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June 14, 2012 | | COMEDOWN The settlement of a medical records lawsuit against Taylor Armstrong shows how far The Real Housewives of Beverly Hills’s star has fallen—from her hocked engagement ring to her knockoff Birkins. The Daily Beast’s Maria Elena Fernandez reports. ECONOMY In a campaign speech in Ohio on Thursday, President Obama said that the economic problems the country faces have been “more than a decade in the making”—while also blaming partisanship in Washington for the lack of a solution. Saying that the “basic bargain in this country started to erode” for a long time before he took office—blaming tax cuts and the pricey foreign wars—Obama told the crowd that if they wanted "big tax cuts, huge spending cuts, and the agenda of the Bush years, then you should vote for Romney." Obama made an appeal to the middle class, telling them that he wanted a "stronger, growing middle-class." Just 250 miles away, Republican challenger Romney will speak about his plan for the economy. YOU SAY YOU WANT A REVOLUTION? Egypt’s high court ruled the Islamist Parliament must dissolve immediately, paving the way for next week’s election winner to rise to power. But wasn’t the point of the revolution to avoid military and theocratic states? The Daily Beast’s Vivian Salama reports. LEVESON British Prime Minister David Cameron said the relationship between
politicians and the press has “gone wrong” and that they have become
“too close.” In his testimony on Thursday before the Leveson Inquiry—the Parliamentary committee investigating media ethics in the wake of
the hacking scandal at News Corp.—Cameron said he doesn't “believe the
regulatory system works” and said that he’s “not trying to blame
the whole thing on New Labour, but I think it’s been a developing
story.” Cameron said he never “traded a policy” to receive
favorable coverage.
UPDATE A former Penn State police officer who took the stand Wednesday in the Jerry Sandusky trial said he argued in 1998 that the former football coach be charged, but prosecutors disagreed at the time. Ronald Sheffler testified that he was one of the officers who was hiding in the home of alleged Victim 6 when his mother confronted Sandusky about sexually abusing her son. In court, Sheffler said he heard Sandusky tell the woman, “I wish I could ask forgiveness. I know I can’t get it from you. I wish I were dead.” Several other alleged victims testified on Thursday, including Victim 3, who claimed Sandusky made inappropriate advances during showers at Penn State and sleepovers at Sandusky’s house. A judge said the prosecution is expected to complete their case today. | | 
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