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Obama’s Next Economy (Robert Reich)
President Obama’s first honeymoon period was more of a brief working vacation, and he already faces some tough choices after winning reelection. Robert Reich argues that in his approach to the economic debate, he should choose progressivism.
Back to Work, Obama Is Greeted by Looming Fiscal Crisis (NYT)
Jackie Calmes and Peter Baker note that the White House and Congress traded the traditional passive aggressive nods toward cooperation yesterday, but while Obama figures out how to work with the GOP, he also needs to decide who will be working for him.
How the Election Reset the Fiscal Cliff Debate (TNR)
Jonathan Cohn writes that candidate Obama wasn’t shy about wanting to raise taxes on the wealthy, and voters turned out to be more than okay with that. That’s why John Boehner’s already repositioning, even if his opening bid is “Do what we want anyway?”
From Coast-to-Coast, Voters Reject Anti-Tax Hysteria (Think Progress)
Pat Garofalo notes that a tax-friendly electorate turned out to the polls across the country on Tuesday, rejecting many anti-tax ballot measures and reporting a widespread belief that taxes need to be higher. In related news, Grover Norquist’s head has exploded.
Obamacare stands. Now states need to make it work. (WaPo)
Sarah Kliff writes that Obama’s victory means the Affordable Care Act will take full effect, helping to secure its place as part of the social safety net. The question is whether the states responsible for implementing it want to do this the easy way or the hard way.
Thank You, Republican Misogynists, for Handing Democrats Crucial Victories (The Nation)
NND Editor Bryce Covert writes that Tuesday was a bad night for creepy dudes with fringe theories about rape, who encouraged women who were already concerned about the economy to vote for candidates whose interests wouldn’t wander too far afield.
Elizabeth the Great: Warren’s Sweet Victory in Massachusetts (Daily Beast)
When bankers want to scare each other, they tell Elizabeth Warren stories. Now Daniel Gross talks to experts including Roosevelt Institute Fellows Rob Johnson and Mike Konczal about the populism and policy expertise that could make her a senatorial powerhouse.
The second worst trade of 2012? Wall Street’s terrible presidential bet (Quartz)
Matt Phillips notes that, with all due respect to the incompetence of the London Whale, the financial industry went awfully long on Mitt Romney, contributing heavily to the Republican’s presidential campaign. At least they weren’t trading Virgil Goode derivatives.
Little to Show for Cash Flood by Big Donors (NYT)
Nicholas Confessore and Jess Bidgood point out that megadonors’ massive spending on the 2012 election turned out to be a more environmentally conscious method of burning a huge pile of cash, suggesting that money can’t buy everything — though it helps.
Unraveling secret money in California (WaPo)
Harold Meyerson writes that with $213 million in anonymous outside spending having gone into the 2012 races, an investigation of one shady group’s finances has revealed a Russian nesting doll of 501(c)(4)s designed to hide donors’ identities from prying eyes.