MSNBC's First Thoughts quoted from an interview NBC conducted with Nancy Pelosi yesterday in which the Speaker pegged the current financial and environmental crises to the Bush administration's "lack of supervision, of regulation, of discipline." Asked how long the Democrats could continue to blame Bush, Pelosi replied, "Well, it burns out when the problems go away."

Chris Cillizza's Morning Fix reports on a new independent organization called Commonsense Ten that will fund ads for federal races this fall. The group's founders include senior Democratic operatives Jim Jordan, Monica Dixon, and Jeff Forbes.

ABC's The Note links to Politico's account of Rep. Eric Cantor's efforts to rebrand the GOP as "a party that gets it" and focus on spending, not ideology, if Republicans win a House majority in November.

Mike Allen's Playbook has an inside peek at Newsweek's Sarah Palin cover, touting a story by Lisa Miller about how Palin is transforming evangelical Christianity into a pro-woman movement.

Ezra Klein's Wonkbook cites a Wall Street Journal article about how the European financial crisis is sparking worries about deflation in the U.S.

The Daily Beast's Cheat Sheet summarizes the New York Times' report of a string of interagency, cross-border drug raids that arrested 429 suspects across 16 states. Attorney General Eric Holder called the raids "our most extensive, and most successful, law enforcement effort to date targeting these deadly cartels."