Cheat Sheet - What Walker's Win Means for Obama and Romney

Today: Greece: We’re Almost Broke, Suspicions That Philip is Gravely Ill Build, Calif. Races Shake Up House June 06, 2012 TOTAL RECALL 1. Scott Walker Survives The Republican governor survives a recall backed by unions. Howard Kurtz on what the outcome tells us about the Obama-Romney contest. Plus, more coverage: John Avlon on the top three conclusions from Wisconsin, Ben Jacobs on Obama's takeaway, Michelle Cottle on how the victory juices the Tea Party, and Michael Medved on how anger backfired. Read it at The Daily Beast CRISIS 2. Greece: We’re Almost Broke Greek officials said on Wednesday that despite the most recent bailout, they could run out of money as soon as July—shortly after the country’s pivotal elections. Greek leaders said that despite the €130 billion bailout—roughly $161.7 billion—they still face a shortfall of €1.7 billion due to tax revenue and other potential income drying up. In the worst-case scenario, the government could be forced to temporarily stop paying salaries and pensions, and halt the imports of fuel, food, and pharmaceuticals. The European Central Bank met Wednesday in Paris, and was expected to leave interest rates unchanged at 1 percent. But the meeting came amid the news that Moody’s had downgraded six German banks, including the country’s second-largest lender, Commerzbank. Read it at The New York Times ROYALS 3. How Ill Is Phil? The prince turns 91 Sunday and had a heart attack six months ago, pushing London royal watchers to ask if his hospitalization is more serious than thought. By Tom Sykes. Read it at The Daily Beast PRIMARIES 4. Calif. Races Shake Up House Move over, Wisconsin, the new district map in California could make it a battleground state for the U.S. House. Under the state’s new top two primary system, runoff elections will take place in all of California’s congressional, Assembly, and Senate districts—although not all the candidates will be from different political parties. Even before Tuesday’s races, eight veterans of the U.S. House were driven into retirement—although Democrats believe they can pick up five seats, and send Nancy Pelosi back into the House speaker’s chair. But Republicans also believe they can win big with the new system over the long term—saying that it could make the GOP a competitive party in the state. Meanwhile, California voters approved a new term-limit system, but defeated a measure to raise the tobacco tax for the first time in decades—a measure that had heavy support from the American Cancer Society. Read it at The Washington Post DEADLY 5. NATO Strike Kills Afghan Civilians A local Afghan official said Wednesday that 17 civilians were killed in a NATO airstrike, although NATO officials said there were only two light injuries to civilians. The airstrike also reportedly killed six Taliban fighters. The target of the strike was the house of a tribal elder in the Baraki Barak district in Logar province, the head of the Logar provincial council said, and he said that Barak and 16 members of his family were killed. Meanwhile, two suicide bombers in Kandahar reportedly killed 22 civilians and wounded another 50 in an attack on a market. Read it at Al Jazeera English BACK IN THE SQUARE Egyptian Protesters Return Fight candidacy of Mubarak deputy. UH-OH Clinton Backs Bush Tax-Cut Extension Bill breaks with Obama policy. CELEBRATIONS Calls for Jubilee Inquiry After report says unpaid workers had to sleep under bridge. Health Scare Sheryl Crow Has Benign Tumor Brain tumor comes after breast cancer battle. OVERREACTION Bynes: Obama, Get Rid of My DUI Tweets to president’s campaign that cop should be fired. GET The Cheat Sheet A speedy, smart summary of news and must-reads from across the Web. You'll love the featured original stories on politics, entertainment, and more from The Daily Beast's diverse group of contributors. GET The Yes List Weekly cultural recommendations from The Daily Beast. Is the U.S. Blowing the Manning Case? by Denver Nicks Syria’s Best Amigo by Mac Margolis Bowie’s Vanishing Act by Chris Lee

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