Daily Digest - April 24: Sarkozy With a Side of Schadenfreude

What you need to know to navigate today's most critical debates.

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Call for Growth Rises to Counter German Push for Austerity (NYT)

With Nicolas Sarkozy headed for a possible defeat in the French elections amid a popular backlash against austerity, it remains to be seen how many more European leaders will jump off a bridge just because Angela Merkel insists the water's fine.

European turmoil, American collateral (Guardian)

Robin Wells argues that the euro crisis offers a clear opportunity for Barack Obama to distinguish himself from Mitt Romney, and not just when Romney's getting wistful about much he'd rather be chilling in Paris than campaigning in Pennsylvania.

How the Euromess could roll back Dodd-Frank (WaPo)

Suzy Khimm notes that U.S. policymakers may offer foreign banks a temporary reprieve on derivatives regulations in light of the ongoing crisis, since there will be plenty of time to implement new rules once the whole system is finished imploding.

Against Law, For Order (Jacobin)

Roosevelt Institute Fellow Mike Konczal looks at America's mass incarceration system and how the conception of government has changed from the guarantor of prosperity to the abusive warden who serves as the villain in every prison movie.

Obama needs to find a theme soon (FT)

Edward Luce writes that the president is struggling to find a message to convince voters that he's made progress with the economy. Hey, did we Win the Future yet? Do we get the big stuffed animal prize or do we need to go two in a row for that?

A vote for universal registration (WaPo)

Katrina vanden Heuvel argues that we need a system that expands and streamlines voter registration in order to counter conservative efforts to ensure that they win every election because they're the only ones who actually get to participate.

America's true tax rate (Salon)

David Sirota notes that the GOP can put down its rolling pins, as the tax rate is already flat when federal, state, and local taxes are combined. But as long as the poor are paying their share, why not be really generous and pay the rich's share, too?

High Tax Rates Won't Slow Growth (WSJ)

Peter Diamond and Emmanuel Saez argue that even if we treat the Laffer Curve as the most important lump ever drawn on a napkin, rates have been much higher historically and in other countries without hurting the economy, and low rates aren't doing much to help.

In Weak Job Market, One In Two College Graduates Are Jobless Or Underemployed (AP)

Congratulations/condolences, class of 2012! You should probably start making plans to go backpacking through Europe and find yourself, because thanks to the miserable job market, you're about to take some time off after college whether you like it or not.

Aiming for Clarity, Fed Still Falls Short in Some Eyes (NYT)

Binyamin Appelbaum reports that despite the Fed's recent efforts to offer more insight into what the hell it's trying to say, some analysts still find themselves parsing the central bankers' statements and forecasts like an oracle reading pig entrails.

With additional research by Elena Callahan.