10 things you need to know today: July 11, 2012

1. SPAIN ANNOUNCES $80 BILLION IN CUTS AND TAX INCREASES

Spanish Prime Minister Mariano Rajoy has unveiled an austerity plan with 65 billion euros ($80 billion) worth of spending cuts and tax increases. Under the new austerity package — Spain's fourth in seven months — unemployment benefits will be scaled back, public workers will no longer receive year-end bonuses, local governments will be consolidated, a tax break for home buyers will be eliminated, and the sales levy will be raised from 18 to 21 percent. Rajoy's announcement comes as European financial ministers finalize a 100-billion-euro bailout for Spain. "I know that the measures I've announced aren't agreeable," the prime minister said in an address to Parliament Wednesday. "They aren't agreeable but they are essential. We are in an extraordinarily serious situation." [Bloomberg]

………………………………………………………………………………

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

2. THIRD CALIFORNIA CITY GOES BUST

After a City Council vote Tuesday night, San Bernardino became the third California city to opt for Chapter 9 bankruptcy protection in just a few weeks, following in the not-so-illustrious footsteps of Stockton and Mammoth Lakes. With a population of 210,000, San Bernardino will be the second-largest city in the country to go bankrupt. [Associated Press]

………………………………………………………………………………

3. GOP HOUSE TO VOTE FOR HEALTH-CARE REPEAL

House Republicans are readying yet another vote to symbolically repeal President Obama's health-care reform. The latest push comes just a few weeks after the conservative-led Supreme Court upheld the constitutionality of the law. Since Obama signed the health-care law, in March 2010, the House has voted to repeal it more than 30 times, and all attempts have been stopped by the Democratic-controlled Senate.[Associated Press]

………………………………………………………………………………

4. LIBYAN ISLAMISTS REFUSE TO ACCEPT DEFEAT

In Libya, the Muslim Brotherhood is refusing to accept that a party led by a U.S.-educated academic, Mahmoud Jibril, has come out ahead. Partial results in the country's parliamentary elections put Jibril's party in first place and the Muslim Brother's Justice and Construction party in second. The final results in Libya's first free national elections in more than four decades could be announced later on Wednesday. [Bloomberg]

………………………………………………………………………………

5. OBAMA AHEAD IN NEW QUINNIPIAC POLL

According to a Quinnipiac University poll released Wednesday, President Obama has 46 percent support compared with Mitt Romney's 43 percent. Obama is benefiting from the support of unmarried people — 54 percent favor the Democrat — and he's especially popular with single women, who favor him over Romney 60 to 31 percent. "Married voters are more likely to focus on the economy and health care, while single voters are more focused on issues such as gay rights and reproductive issues," says a Quinnipiac assistant director. [Bloomberg]

………………………………………………………………………………

6. DOCTORS DETERMINE CAUSE OF CAMBODIAN ILLNESS

Doctors say that the World Health Organization and the Cambodian Ministry of Health will officially conclude that the mystery illness that has killed dozens of children is a combination of pathogens, including dengue, enterovirus 71, and streptococcus suis. Officials also learned that the use of steroids to treat the illness actually made it worse by suppressing the children's immune systems. [CNN]

………………………………………………………………………………

7. FREIGHT TRAIN DERAILS, EXPLODES IN OHIO

Early Wednesday, an estimated 11 cars of a freight train derailed and caught fire in Columbus, Ohio. A mile-wide area of the city has been evacuated as firefighters work to contain the blaze. The cars were carrying chemicals, including denatured alcohol, but there is no risk for air contamination, according to hazmat officials. [CBS/Associated Press]

………………………………………………………………………………

8. GUTHRIE'S TODAY DEBUT FLOPS

Early numbers show that on Savannah's Guthrie's first official day as Ann Curry's replacement on Today, just 4 million viewers tuned in compared with the 4.4 million who watched Good Morning America. While the numbers are not yet final, if they are confirmed it will mark the first time since 2006 that GMA has beat Today on a Monday. [Washington Post]

………………………………………………………………………………

9. TARGET AND NEIMAN MARCUS TEAM UP

Luxury retailer Neiman Marcus announced Tuesday that it is partnering with big-box-discount-store Target to sell a small collection from two dozen American designers for the holidays. Participating designers include Diane Von Furstenberg, Rodarte, and Tory Burch. Both chains will offer the same items. The unusual pairing is Neiman's latest attempt to appeal to a broader range of customers. [Wall Street Journal]

………………………………………………………………………………

10. EPISCOPALIANS OKAY SAME-SEX UNION RITE

The Episcopal Church has approved a policy that would allow priests to conduct services blessing same-sex relationships. The new policy makes the Episcopal Church the largest denomination in the country to officially endorse same-sex couplings. [CNN]