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The Score: Why Prisons Thrive Even When Budgets Shrink (The Nation)
Roosevelt Institute Fellow Mike Konczal and Bryce Covert look at the growth of incarceration even in times when presidents preach against “big government,” which the prison system certainly is.
Europe’s Austerity Zombies (Project Syndicate)
Roosevelt Institute Chief Economist Joseph Stiglitz says that European countries’ continued push for austerity, which isn’t fixing their economies, is tragic in light of the people who suffer without work.
Revisiting the Lehman Brothers Bailout That Never Was (NYT)
James B. Stewart and Peter Eavis report on previously unknown analysis from the New York Federal Reserve suggesting that the Fed could bail out Lehman Brothers. The analysis never reached top officials.
It’s the Inequality, Stupid (In These Times)
Emphasizing inequality is the best chance that Democrats have of engaging working-class voters who swing elections, writes David Moberg.
New York Mayor de Blasio Plans Expansion of Living Wage (Reuters)
De Blasio plans to sign an executive order that will expand the law to cover an additional 18,000 jobs and increase the living wage to $13.13 for workers without benefits, writes Alex Dobuzinskis.
California Pension Fund Gives the Boot to Hedge Funds (AJAM)
Dean Baker praises California’s public pension fund for ending investments in hedge funds, which charge high fees. He says that funds should make the contracts that lay out these fees public.
Killing the “Nuclear Option” Will Not Save the Senate. It Will Ruin Obama’s Final Two Years. (TNR)
When Senate Republicans say that they want to revoke the Democrats’ “nuclear option,” which eliminated filibusters on presidential appointments, they’re planning a blockade, writes Brian Beutler.