Daily digest – Wages, jobs and rock and roll
What you need to know to navigate today’s most critical debates.
Obama’s New Economic Adviser Warned of ‘Disturbing Problem’ (HuffPo)
Alan Krueger once wrote that the jobs crisis is worse than we think. But can he convince anyone to do anything about it, or is his appointment just another of the Obama administration’s attempts to look busy?
A closer look at Alan Krueger’s academic work (WaPo)
Brad Plumer reviews Krueger’s most important research, ranging from a study showing that raising the minimum wage could boost employment to a paper that found all-girl rock groups command the highest ticket prices.
On jobs, time to be bold (WaPo)
Eugene Robinson writes that Obama must set aside his Mr. Reasonable persona and prove to voters that, like FDR, he’s going to fight for them come hell or high water.
A Venn Diagram for Rick Perry: Social Security Is Not a Ponzi Scheme (MoJo)
Nick Baumann provides a handy guide for those who can’t tell the difference between a vital federal benefit program and some dude stealing all your money.
FDIC Objects to BofA $8.5B Mortgage-Bond Accord (Bloomberg)
The regulator joins Eric Schneiderman and Delaware AG Beau Biden in telling Bank of America that it can’t be so quick to settle the case brought against it by Countrywide investors, since it only bothered to negotiate with the ones it likes.
Do Liberals Have to Be Losers? (HuffPo)
Dean Baker’s new book, free for download, argues that progressives should stop wasting oxygen debating marginal tax rates and start addressing the fact that pre-tax income distribution has been completely distorted by conservatives.
House GOP revs up a repeal, reduce and rein-in agenda for the fall (WaPo)
Lest anyone accuse Republicans of not having a jobs plan, they’re determined to eliminate protections for workers and the environment that are somehow killing the economy. Sweatshops and toxic drinking water for all!
Christine Lagarde Calls For Fiscal & Monetary Stimulus, Balanced Debt Reduction & Mortgage Relief (Think Progress)
In her first big speech, the new head of the IMF rejected the “austerity now, austerity forever” approach to the debt crisis and told policymakers they need to get serious about addressing the housing mess.
Another Showdown Likely, as NLRB Chair Leaves Hot-Button Federal Agency (In These Times)
The departure of long-serving NLRB chair Wilma Liebman would be a loss even under normal circumstances, but if President Obama doesn’t use a recess appointment to replace her, the board could soon lack the quorum it needs to function.
One More Reason to Shut the SEC and Start Over (Bloomberg)
William Cohan argues that the revelation that the SEC has been destroying evidence of financial foul play shows we need regulators who can actually be distinguished from the people they’re supposed to be regulating.
PCIP: 98 Percent Of Federal Funds To Help Uninsured Go Unspent (HuffPo)
A program meant to help Americans with pre-existing conditions who can’t afford insurance is shaping up to be the HAMP of health care reform, unknown to many who need it and unavailable to many who want to take part.
Saint Martin (TAP)
Jamelle Bouie writes that Martin Luther King Jr. only became an American icon once time and revisionist history sanded down the rough edges of a message that was meant to discomfort the rich and powerful.
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