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First Read’s Morning Clips

OFF THE RACES: What another recession might mean for 2016

Msnbc.com's Benjy Sarlin explores what another recession might mean for 2016: "The consensus among major economic forecasters is modest growth ahead, but it’s surprising how little the possibility of a recession or substantial slowdown is mentioned in the current political conversation, given that many observers consider economic growth an unmatched predictor of which party holds the White House."

BIDEN: Dan Balz on the Biden calculation: "Biden is now leaning more toward running than he was earlier in the summer, though he is still weeks from a decision. He thinks his White House experience over the past 6  1/2 years, coupled with his grounding in middle-class issues during a long career in the Senate, makes him well equipped to serve as President Obama’s successor. But following the loss of Beau Biden in May, the elder Biden is concerned about whether his relatives could handle a bid for the presidency and its time demands on the family patriarch."

From the Huffington Post: “If Vice President Joe Biden decides to jump into the presidential race, his decision will be driven, he has said in recent conversations, by a belief that Hillary Clinton's background won't allow her to be a credible messenger when it comes to income inequality.”

The White House is keeping the door open to an endorsement in the Democratic primary by President Barack Obama.

Backers of Elizabeth Warren say they've already found their guy - in Bernie Sanders.

BUSH: Msnbc.com's Amanda Sakuma writes on what Jeb Bush says he meant when he used the term "anchor babies."

From one of us(!): Jeb Bush says that people should "chill out" about political correctness and the term "anchor babies."

The New York Times writes that Bush is ready to hit back. "After enduring those slings and arrows for weeks, to the mounting dismay of supporters, Mr. Bush, the former Florida governor, and his aides have decided to venture outside their comfort zone and borrow a page from Mr. Trump’s playbook: Hit back, with force and creativity, over and over again in the coming weeks."

The Washington Post notes that Jeb Bush gets kudos for his handling of hurricanes -- even if his brother doesn't.

Al.com writes that Jeb Bush got the endorsement of former Alabama governor Bob Riley.

The New York Times writes - and NBC confirms - that Bush's campaign is taking steps to curb costs.

CLINTON: Writes the New York Times: "Hillary Rodham Clinton’s campaign has received commitments from four Democratic state parties, including in the crucial proving ground of New Hampshire, to enter joint “victory fund” agreements with the campaign just as the nomination battle is beginning."

KASICH: Trent Lott is endorsing John Kasich, POLITICO reports.

SANDERS: He said he doesn't know how a Biden run would impact the 2016 race, per NBC's Kailani Koenig.

PERRY: His Iowa chairman has stepped down, one of us(!) reports.

TRUMP: From Reuters: "How Trump plans to turn gawkers into hardcore supporters"

Here was his advice on matters of the stock market and personal finance, via the New York Times: "People have taken a big hit... You are better off holding."

WALKER: From the Wall Street Journal: "One of Scott Walker’s top fundraisers met with Donald Trump on Monday and discussed the possibility of leaving the Wisconsin governor’s camp to work for the GOP presidential front-runner’s campaign, the fundraiser and Mr. Trump said. Anthony Scaramucci, a national finance co-chairman for Mr. Walker’s campaign, said in a phone interview that the two discussed the possibility of his defecting to Mr. Trump but that he told the businessman it wasn’t possible."

Walker says Obama should "show some backbone" by canceling a state visit from the president of China.

And around the country...

FLORIDA: The state is now close to beating New York's Puerto Rican population.

OBAMA AGENDA: A market rebound?

The Wall Street Journal's lede: "The global market rout showed signs of easing Tuesday, as U.S. stock futures and European stocks surged despite another sharp drop in Chinese stocks. Dow futures gained 584 points, or 3.7%, to 16293. S&P 500 futures were 3.9% higher. Changes in futures aren’t necessarily reflected in market moves after the opening bell. Treasurys slipped, as the fierce demand for haven assets faded."

More, from Reuters: "European shares, oil and the dollar extended gains in mid-session trade on Tuesday as a market rebound gathered pace after China cut interest rates and bank reserve requirements to stimulate its wavering economy."

CONGRESS: On the Menendez corruption case

From the Wall Street Journal: "Federal prosecutors outlined new evidence Monday in the corruption case against U.S. Sen. Robert Menendez, using statements from girlfriends, fellow lawmakers and former Obama administration officials to attack his claims of unfair treatment. In a pair of filings in federal court in New Jersey, prosecutors rebutted accusations that they or officials at the Federal Bureau of Investigation engaged in misconduct to indict Mr. Menendez, a New Jersey Democrat."

Former congressman Trey Radel has a new video discussing his recovery from being "the cocaine congressman."

PROGRAMMING NOTES.

*** Tuesday’s “News Nation with Tamron Hall” line-up: Tamron Hall speaks with both Mother Jones Washington Bureau Chief and MSNBC Political Analyst David Corn and the Executive Director of Latino Partnership for Conservative Principles and Fmr. Chief of the U.S. Office of Citizenship under President G W Bush Alfonso Aguilar about the latest political headlines; NBC News London Correspondent Kelly Cobiella about the latest surrounding the European train attack; and Grammy Award winning artist and lead singer of Matchbox Twenty, Rob Thomas, about his new solo album “The Great Unknown” and his foundation the Sidewalk Angels Foundation.

*** Tuesday’s “Andrea Mitchell Reports” line-up: The Financial Times US Managing Editor Gillian Tett, USA Today’s Susan Page, Washington Post’s Chris Cillizza, CNBC Contributor Ron Insana, NBC’s Richard Engel and Principal of Warren Easton Charter High School in Alexina Medley on the Katrina anniversary.

*** Tuesday’s “Live with Thomas Roberts” line-up: Thomas interviews New York Times’ Josh Barro, Washington Post’s Drew Harwell and New America Foundation Sr. Fellow Susan Ochs about Monday’s market drop, Attorney Raul Reyes about Jeb Bush and Donald Trump’s immigration rhetoric, MSNBC’s Ari Melber about the New Hampshire prep school rape trial, Aaryn Lang of BlackLivesMatter about taking up the Transliberation Cause and Lisa Johnson, one of a group of women kicked off the Napa Wine train, sparking the hashtag #laughingwhileblack.