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Romney’s Distortion — And Why It Matters (TNR)
Jonathan Cohn writes that Mitt Romney continues to misrepresent President Obama’s remarks about business owners because it’s easier to attack a claim no one ever made than to defend an economic platform that no one takes seriously.
Among competing jobs plans, it’s not even close (Maddowblog)
Steve Benen notes that while Republicans like to claim they’ve passed 32 jobs bills since 2010, economists say it’s a triumph of quantity over quality, with little evidence that they’d create work for anyone besides the interns sent to print them out.
Republicans want to raise taxes on the poor. Why? (WaPo)
When is a tax cut not a tax cut? Ezra Klein argues that for the GOP, it’s when it’s a tax cut that President Obama supports, since everything he does is wrong by definition, while tax cuts are good and virtuous like the rich people they’re intended for.
Democratic Leaders Again Whipping Against Audit of the Federal Reserve (Naked Capitalism)
Roosevelt Institute Fellow Matt Stoller writes that the House’s latest audit bill shows how low the Fed has fallen. Despite being whipped like a 50 Shades of Grey character, many Democrats voted with the GOP to make the central bank accountable.
Can Financial Regulation Be Fixed? (Baseline Scenario)
James Kwak argues that recent financial scandals show that simply passing more regulations is a futile gesture as long as banks are large and powerful enough to respond by patting regulators on the head and thanking them for the suggestions.
The Man Who Invented “Too Big to Fail” Banks Finally Recants. Will Obama or Romney Follow? (Robert Reich)
Reich writes that hearing a proposal to break up the big banks from Sanford Weil, who created Citigroup and successfully lobbied for the repeal of Glass-Steagall, is as significant as hearing Bill Gates say it’s time to rethink the whole computer thing.
Mitt Romney’s Bankster Ball (The Nation)
John Nichols notes that Mitt Romney’s trip to London to reconnect with his Olympic roots gave him the opportunity to hold a fundraiser with execs from British banks, who happen to have a lot of money they need to unload before they all go to jail.
London to the safety net: Let them eat sports (Lean Forward)
Ned Resnikoff points out that instead of spending billions to rebuild infrastructure, shore up public pensions, or improve working conditions, the British government has sensibly decided to invest in a huge sports arena to house a one-time event.
There Is No Sovereign Debt Crisis (Slate)
Matthew Yglesias writes that with a few exceptions, nations around the world are seeing borrowing costs plunge as investors beg them to take their money so they don’t have to lose it all in the private sector. We should be smart enough to say yes.
Hot new conservative lie: The private sector invented the Internet (Salon)
Alex Pareene examines the latest conservative talking point about the creation of the Internet: Despite what “facts” would have you believe, the government couldn’t have created the Internet, because government is bad and can’t create anything. QED.
With additional research by Danielle Bella Ellison.