Bill Clinton is “set to play a central part in the Democratic convention, aides said, and will formally place President Obama’s name into nomination by delivering a prime-time speech designed to present a forceful economic argument for why Mr. Obama deserves to win a second term,” the New York Times reports.

Said David Axelrod: “There isn’t anybody on the planet who has a greater perspective on not just the last four years, but the last two decades, than Bill Clinton. He can really articulate the choice that is before people.”

Vice President Joe Biden and Obama “will appear together on stage before they accept the party’s nomination for a second term in the White House. It is unusual in recent election cycles, although not without precedent, for the vice president not to get the stage to himself during a night at the convention.”

USA Today:
“The prominent role for Clinton reflects the latest truce between the
two presidents, who first clashed during the 2008 Democratic primaries
when Obama defeated Hillary Rodham Clinton. More recently, the Obama
team has been frustrated by Clinton comments complimenting Romney’s
business career and endorsing a different strategy on tax cuts.”

Mitt Romney was asked by ABC News if there was ever any year when he paid lower than a 13.9% effective tax rate as his 2010 tax returns show.

Said Romney: “I haven’t calculated that. I’m happy to go back and look but my view is I’ve paid all the taxes required by law. From time to time I’ve been audited as happens I think to other citizens as well and the accounting firm which prepares my taxes has done a very thorough and complete job pay taxes as legally due. I don’t pay more than are legally due and frankly if I had paid more than are legally due I don’t think I’d be qualified to become president. I’d think people would want me to follow the law and pay only what the tax code requires.”

However, when pressed if he would get back to the interviewer, Romney wouldn’t directly answer the question.

A Newsweek cover story says Mitt Romney’s trip to London — where he “managed to alienate just about every living Briton” — suggests he might just be too insecure to be president.

“The episode highlights what’s really wrong with Romney. He’s kind of lame, and he’s really … annoying. He keeps saying these … things, these incredibly off-key things. Then he apologizes immediately — with all the sincerity of a hostage. Or maybe he doesn’t: sometimes he whines about the subsequent attacks on him. But the one thing he never does? Man up, double down, take his lumps.”

“Mitt Romney wondered aloud whether London was ready for the Olympics, and I think it’s clear that voters in this country wonder aloud whether Mitt Romney is ready for the world, and I think the world is not yet ready for Mitt Romney.”

— Obama spokesman Robert Gibbs, in an interview with ABC News, adding, “I thought it was embarrassing for our country.”

Los Angeles Times: “The economy is in the tank and hopes for quick improvement are dim. Most people don’t like the direction the country is headed and many blame President Obama. And his GOP rival scores better on the top issues. So why isn’t Obama doing worse in the polls?”

“One likely reason: Voters like him more than Mitt Romney.”

Washington Post: “In part, the disparity reflects a natural reserve, even an awkwardness
on Romney’s part. It also reveals a sensitivity to the fact that there
are upsides and downsides politically to defining himself through his
biography — his Mormon faith, his spectacularly successful business
career, his wealth and his stint as the governor of a liberal state.

Former Vice President Dick Cheney told ABC News he wouldn’t comment on the advice he gave Mitt Romney on picking a running mate but he was harsh in his assessment of Sen. John McCain’s decision to pick Sarah Palin four years ago.

Said Cheney: “That one, I don’t think was well handled.”

He added: “I like Governor Palin. I’ve met her. I know her. She – attractive candidate. But based on her background, she’d only been governor for, what, two years. I don’t think she passed that test…of being ready to take over. And I think that was a mistake.”

The Week looks at five ways Mitt Romney’s bungled trip hurt him.

New York Times: “As the campaigns prepare for the next phase of the race, the two sides are taking stock of what they have achieved in their first sustained engagement, a relentlessly negative effort over the last two months to define the other. The exchanges have been so fierce that hardly a positive ad has been broadcast in July.”

“But both the opportunities and the risks in the definition wars are greater for Mr. Obama. Mr. Romney is less well known to the public, giving Democrats a chance to shape perceptions of him just as more voters are starting to tune in to the race.”

“The president’s prospects for re-election now rest in part on one of the biggest gambles of his career: that the benefits of trying to eviscerate Mr. Romney outweigh the costs to his own image and reputation. ”

Mitt Romney’s campaign “reversed its decision to bar reporters from an upcoming fund-raiser in Jerusalem, saying on Sunday it will now allow a pool of journalists to cover the presumptive GOP nominee’s remarks,” CNN reports.

“The reporters, however, will be escorted out before Romney takes questions from the audience during the event on Monday.”

“We got a problem because we’ve got a president who’s all foam and no beer.”

— Former Minnesota Gov. Tim Pawlenty, quoted by NBC News, campaigning for Mitt Romney in North Carolina.

Mitt Romney arrived in Jerusalem and was scheduled to attend a fundraiser on Monday but his campaign announced “that it would block the news media from covering the event,” the Washington Post reports.

“The campaign’s decision to close the fundraiser to the press violates the ground rules it negotiated with news organizations in April… Under the agreement, a pool of wire, print and television reporters can cover every Romney fundraiser held in public venues, including hotels and country clubs. The campaign does not allow media coverage of fundraisers held in private residences.”

A spokesman “declined to explain the campaign’s decision to violate protocol with the Jerusalem event.”

Mark Halperin: “With Sheldon Adelson expected to be in the house (the King David hotel) and a restive traveling press corps, this might not be the best way, however, to change the trajectory of the media narrative.”

A new Susquehanna Polling & Research survey in Pennsylvania found President Obama leading Mitt Romney by just three points, 46% to 43%.

In June, Obama led by five points, 48% to 43%.

Key findings: “Nearly 80% of voters in the poll said they had seen campaign ads from the candidates. Just 39% view Romney favorably, compared with 41% who have an unfavorable view of him. Voters are almost evenly split on their opinions of Obama, 46% favorable and 45% unfavorable.”

A new Mason-Dixon poll in Missouri shows Sen. Claire McCaskill (D-MO) trailing all of her potential GOP challengers.

John Brunner (R) tops McCaskill, 52% to 41%, Sarah Steelman (R) leads 49% to 41% and Todd Akin (R) is ahead 49% to 44%.