Click here to receive the Daily Digest via e-mail.
Singapore’s Lessons for an Unequal America (NYT)
Roosevelt Institute Chief Economist Joseph Stiglitz writes that despite a growing class divide in the U.S., other comparable nations have demonstrated that it’s possible to combine social equity with strong economic growth. The key seems to be that you have to try.
In Cyprus, Europe Sets a New Standard for Stupidity (Bloomberg)
Clive Crook tries to decipher the logic behind the European Union’s decision to work toward a unified banking system only to turn around and prove that it can’t be trusted to insure anyone’s bank deposits without taking the liberty of making its own withdrawals.
Lesson of JPMorgan’s Whale Trade: Nothing Was Learned (ProPublica)
Jesse Eisinger argues that the Senate report on JPMorgan’s London Whale fiasco and the subsequent cover-up shows that bankers are still up to the same old tricks that led to the financial crisis, and regulators are still happy to play the magician’s assistant.
Progressives’ budget merits a closer look (WaPo)
Katrina vanden Heuvel writes that the Congressional Progressive Caucus’s budget, which contains ideas with strong popular support that could actually help the economy, deserves more media attention than a new edition of Paul Ryan’s plan to avenge the makers.
Republicans Redefine “Left-Wing” as “Not Balancing the Budget Fast Enough” (Slate)
Dave Weigel notes that as part of the GOP’s ongoing effort to message its way out of nonsensical policy positions, it’s now claiming that proposing a budget with a slightly higher debt-to-GDP ratio is the start of a slippery slope toward seizing the means of production.
The economic plan to rob grandma’s bread basket (Guardian)
Helaine Olen argues that switching Social Security to chained CPI would hurt retirees in general, who can’t exactly shop around for a cheaper generic for hip surgery, and older women in particular, who’d be forced to go on a low-carb, low-everything-else-too diet.
This Week in Poverty: SEIU Hospital Workers Strike for Affordable Healthcare (The Nation)
Greg Kaufmann highlights a strike by 700 hospital workers in Washington whose own health insurance has become so expensive that they can no longer afford care, which is kind of like working as a cook or a waiter in a restaurant while suffering from starvation.
Forty Years Behind on Sick-Leave Policy, But Catching Up (Prospect)
Sharon Lerner notes that there’s mounting pressure for the U.S. to join most of the rest of the world by guaranteeing paid sick time, but the idea still faces powerful opposition, like business owners who must enjoy having employees cough on their lunch.