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The link between civil and economic rights (WaPo)
Fifty years after the March on Washington for Jobs and Freedom, Harold Meyerson argues that the struggle for economic justice continues with striking fast food workers and their demands for better pay. With any luck, we won’t have the same sense of deja vu when 2063 rolls around.
The Great Lesson from the Great Recession (Fiscal Times)
Mark Thoma writes that automatic stabilizers and the Federal Reserve’s rescue efforts helped prevent another Great Depression, but to get the economy back on track, Congress needs to be willing to spend a lot more money instead of actively poking holes in the safety net.
Back to School with Budget Cuts Thanks to Sequestration (Think Progress)
Bryce Covert notes that every public school district in the U.S. will feel the pinch from sequestration this school year thanks to an across-the-board 5 percent cut to Department of Education programs, which will mean less support for both students and teachers.
New Census Numbers Show Recession’s Effect on Families (NYT)
Sam Roberts writes that an analysis shows more Americans going it alone rather than starting a family in this economy, while existing families have experienced more poverty, joblessness, and divorce. But some families are also being kept together by their kids’ inability to move out.
The debt ceiling: Is Boehner just blustering? (MSNBC)
Suzy Khimm argues that despite the debt ceiling once again looming over us, the GOP’s threats to hold the economy hostage don’t carry as much weight this time around, since they’ve already proved they’ll strike a deal when needed and aren’t quite sure what their demands are.
Here’s where middle-class jobs are vanishing the fastest (WaPo)
Brad Plumer highlights two graphs that demonstrate the polarization of the labor market, with high-paying jobs, low-paying jobs, and an empty space in the middle where all the teachers and construction workers used to be before the steady erosion of unions and the minimum wage.
FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks (Bloomberg)
Dawn Kopecki reports that JPMorgan may pay a hefty sum to settle civil claims that the bank, along with WaMu and Bear Stearns, which it acquired in 2008, sold low-quality mortgage bonds to Fannie and Freddie. But it’s no worse than a bad day at the office for the London Whale.
Bank CEO Admits to Using Bailout Money to Buy a Luxury Condo in Florida (Business Insider)
Missouri bank CEO Darryl Layne Woods used more than $381,000 of TARP funds to buy himself a vacation home. Some may call it a blatant misuse of taxpayers’ money, but he would have remembered their sacrifice every time he looked out over that waterfront view.