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The worst case against the Obama administration (WaPo)
Ezra Klein explains how Niall Ferguson went head-to-head with Paul Krugman and suffered a concussion. But Ferguson claims his Newsweek cover story isn’t full of lies; it’s all just, you know, attempts to trick readers into believing things that aren’t true.
The 14 Potential Causes of the Income Slump (NYT)
Inequality keeps rising and everything is terrible, but whence comes this terribleness? David Leonhardt presents a multiple-choice survey on the most commonly cited factors, testing whether the wisdom of crowds trumps the wisdom of economists.
Goldman Sachs Looks to Turn a Profit on Program to Fight Recidivism (The Nation)
Max Rivlin-Nadler notes that Goldman’s investment in America’s first social impact bond is worrying public policy analysts who suspect the bank might care just slightly more about its own bottom line than about the fate of some Rikers Island inmates.
Wall Street Leaderless in Rules Fight as Dimon Diminished (Bloomberg)
Dawn Kopecki writes that since JPMorgan proved just as capable as its peers of gambling billions of dollars away, the financial sector is lacking a designated Good Banker to persuade regulators that a pinky swear is better than a bunch of new rules.
Romney’s Race-Based Initiative (TAP)
Patrick Caldwell notes that while the Romney campaign hasn’t gone full “welfare queens” on us yet, its attacks on the social safety net and the greedy poor are emphasizing certain things about Obama, like the fact that he’s… What’s the word? Blah.
Romney Gains Huge Cash Advantage Over Obama (NYT)
Nicholas Confessore and Derek Willis report that the Romney campaign and the RNC came out of July with $62 million more than their rivals, giving them an edge heading into the conventions that their Super PACs plan to sharpen into a knife point.
Romney and Ryan and Taxes and Spending: Hypocrisy-Fest Continues (Daily Beast)
Michael Tomasky points out that though Paul Ryan claims he was miserable during the Bush years, a 2002 clip shows him extolling the virtues of the administration’s stimulus spending to jump-start the economy. Misery really does love company.
Private-Market Tooth Fairy Can’t Cut Medicare Costs (Bloomberg)
Peter Orszag argues that proponents of privatizing Medicare are modeling their plans on a program that makes health care even more expensive. Time to think twice before you let your doctor waste a whole tongue depressor on you; the other half’s still dry.
Writing Off Poor Children (NYT)
Nancy Folbre writes that public investment in poor children through family assistance and increased educational opportunities has proven to produce better results than blaming single moms for not handcuffing their kids’ fathers to the radiator.
What trash can tell us about the U.S. economy (WaPo)
Turns out digging into trash isn’t just for the paparazzi anymore. Brad Plumer highlights a garbage index that ties U.S. GDP growth to how much stuff we’re throwing away, and right now it looks as though it’s the economy that’s headed to the landfill.