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The Poorly Attended Hearing on One of the Economy’s Toughest Problems (National Journal)
If there’s a congressional panel on long-term unemployment and no one is around to hear it, does it make a sound? Niraj Chokshi writes that the Joint Economic Committee might have discovered the answer yesterday if not for Amy Klobuchar’s presence.
Possible Fed Successor Has Admirers and Foes (NYT)
Binyamin Appelbaum profiles Janet Yellen, a likely candidate for Fed chair when Ben Bernanke finally departs from the Grey Havens, who’s made enemies among the GOP by suggesting that a little inflation might go a long way toward helping the economy.
Banking Regulation: Closed for Business (Prospect)
David Dayen writes that while Senators Brown and Vitter have just introduced a bipartisan plan to end “too big to fail,” Treasury officials insist they needn’t have bothered, since that’s all been fixed already. No, really, it has. Why are you giving them that look?
The Immigration Bill’s Forced-Labor Problem (MoJo)
Adam Serwer notes that in the midst of a heated debate about whether to give undocumented immigrants a path to become full citizens, a more difficult question may be how to ensure that the guest workers who are here legally are treated like full human beings.
Study: There may not be a shortage of American STEM graduates after all (WaPo)
Jia Lynn Yang highlights a study from EPI which finds that America’s dilemma isn’t really that it has too small a pool of available workers who know how to fix a computer or do a math problem, but that it doesn’t have a whole lot of work for many of them to do.
Why Obama’s Stealth Social Security Cut Is Bigger Than It Seems (TPM)
Brian Beutler flags a CBO report on Chained CPI which shows that while standard criticisms apply, it hits seniors particularly hard if you account for the fact that they don’t have the same spending habits as their grandkids (as any gift-giving occasion will reveal).
Obama Administration Is Right to Hold Fliers Hostage (Bloomberg)
Josh Barro argues that despite all the moaning about how across-the-board furloughs have delayed flights, the White House should keep critics grounded until a comprehensive sequester fix is in place. There’s no such thing as first class in economic policy.
The Preferences of the Wealthy and Their Role in Our Politics (On the Economy)
Jared Bernstein writes that until we stem the flow of money in politics, deciding what goals we want to achieve as a society will take a backseat to another question: what do the millionaires think? And the answer is usually, “we should cut social spending.”