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The Complete Guide to America’s Jobs Crisis and the Failure of Monetary Policy Using Animated Gifs (Business Insider)
If the title alone isn’t enough to make you click, it’s written by Roosevelt Institute Fellow Mike Konczal, and it’s almost certainly the only place you’ll ever see Ben Bernanke portrayed by Will Ferrell, the farmer from Babe, and one of the Olsen twins.
Economic Stimulus as the Election Nears? It’s Been Done Before (NYT)
Binyamin Appelbaum notes that the Fed may be seen as bowing to political pressure if it launches QE3 now, but there’s plenty of precedent. And what better way to prove its independence from either party than by doing something about the economy?
Ducking the fundamental issues (WaPo)
Katrina vanden Heuvel writes that the conventions drew clear battle lines for this election on cultural issues and economic and foreign policy, but topics like climate change, executive overreach, and inequality have been set aside in the demilitarized zone.
Who’s the Boss? The Worst Post-Citizens United Ruling Yet (TNR)
Roosevelt Institute Senior Fellow Mark Schmitt notes that Citizens United may not have just unleashed a tidal wave of corporate cash. If the Republican interpretation holds, it also allows our employers to use us like yard signs for their candidate of choice.
Obama’s a supply-sider, too (Salon)
Michael Lind argues that just as supply-side conservatives think the solution to everything is to give the rich more money, supply-side progressives think the answer to a demand-driven jobs crisis is to educate and innovate and check back in a few decades.
Is Chicago the Next Wisconsin? (Prospect)
Stephen Franklin writes that the dispute between Chicago teachers and President Obama’s former chief of staff is about more than local issues. It’s an existential battle for unions in which their traditional allies are charging toward them with bayonets fixed.
Have House Republicans forgotten the debt-ceiling fight? (WaPo)
Suzy Khimm notes that the House GOP continues to excoriate the president for agreeing to the sequestration it demanded, like a drunk driver might blame his friend for not taking aways his keys before he wrapped his car around a telephone pole.
If Obama Wins, You Can Thank the Economy, Not Blame It (MoJo)
Kevin Drum points out that while many pundits think Obama’s poll numbers are defying gravity, past election results suggest a year of meh but steady job growth should lead to a meh but steady lead for the incumbent, and sometimes meh is all you need.
Mitt Romney, Carried Interest and Capital Gains (NYT)
Bruce Bartlett writes that we don’t need to lift the veil of secrecy on Romney’s past tax returns to see the carried interest loophole on full display in his most recent filing, but if we want to close that loophole, the capital gains break is the wrong thread to tug on.
America’s 1 Percent Have 288 Times as Much Wealth as the Median Household (Think Progress)
Pat Garofalo highlights EPI’s latest State of Working America report, which shows that three-quarters of wealth growth has gone to the top 5 percent since 1983. It’s becoming a safety hazard, as the money pits they swim in no longer have a shallow end.