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Why “The Sky Hasn’t Fallen Yet” is a Bad Standard for Judging Policy Choices (The Fine Print)
Nick Schwellenbach uses Roosevelt Institute Fellow Mike Konczal’s piece on right-wing think tanks and the debt ceiling to explain why even if a default wasn’t catastrophic, it would still be a terrible policy decision.
U.S. Treasury, Fed Planning for Possible Default (Reuters)
Tim Reid and Jonathan Spicer report that the Treasury and the Fed have started preparing contingency plans for a default. The plans remain secret because officials worry about encouraging Republican Congress members who think breaching the debt ceiling is no big deal.
Obama to Boehner: No? (WaPo)
Ezra Klein reports on yesterday’s White House meeting with a Republican House delegation, which offered a six week debt ceiling increase. The President appears to be sticking to his statements that the government must be reopened before anything else can happen.
Postcards from the Shutdown Edge (TAP)
According to Abby Rapoport, the shutdown hasn’t seemed so bad so far because the states have covered for missing federal funds for the past ten days. That can’t go on forever, and when it stops, the social safety net will be in trouble.
A Border Patrol Agent Who Has To Work Without Pay Wants You To Stop Saying The Shutdown Is No Big Deal (Business Insider)
Josh Barro looks at what’s coming for the many federal employees who have been working without pay for nearly two weeks. A short paycheck is approaching, and then no more until government reopens, and bills can’t be paid in IOUs dated “whenever the shutdown ends.”
Bank Examiner Was Told to Back Off Goldman, Suit Says (NYT)
Susanne Craig and Jessica Silver-Greenberg report on a lawsuit filed by a former New York Fed employee, which contends that she was asked to change her negative findings about the conflict of interest policies at Goldman-Sachs and fired when she refused.
New on Next New Deal
Roosevelt Institute Senior Fellow Richard Kirsch interviews representatives of the Coalition of Immokalee Workers, who will receive the Freedom from Want medal at the 2013 Four Freedoms Awards, on their unique organizing model in the fight for fair wages and working conditions.
Roosevelt Institute | Campus Network Senior Fellow for Defense and Diplomacy Jacqueline Van de Velde considers the work of Sister Simone Campbell, who will receive the Freedom of Worship medal at the Four Freedoms Awards, in the context of progressive policy.