Skip to main content

Economics Daily Digest by the Roosevelt Institute banner
By Tim Price, originally published on Next New Deal

Click here to receive the Daily Digest via e-mail.

Homeless, Hungry, Hung Out to Dry (Prospect)

With just over a week to go before Sequestration Day (Have you made your party plans yet? Bought the budget piñata for the kids?), NND Editor Bryce Covert looks at the people and programs that will be affected by deep discretionary spending cuts.

Moving the Goal Posts: Simpson and Bowles Renege on Their Own Plan for More Revenue (Think Progress)

Jeff Spross notes that Simpson-Bowles 2: Simpson-Bowles Harder would build on existing deficit reduction measures by adding a lot more spending cuts and just a little more revenue, bringing it more in line with the imaginary version Republicans support.

One on One: Susan P. Crawford, Author of 'Captive Audience' (NYT)

Brian Chen talks to Roosevelt Institute Fellow Susan Crawford about how the deregulation and merger of telecom giants is stifling competition and high-speed Internet access, making it that much harder to watch the Gangnam Style parodies your aunt sends you.

The Real Problem With the Big Banks (New Yorker)

James Surowiecki argues that if you strip away all the incomprehensible derivatives schemes and make banks more transparent, they're still going to be banks, which, even in their vanilla form, require much stricter regulation than your corner drug store.

Prosecutors, Shifting Strategy, Build New Wall Street Cases (NYT)

Ben Protess reports that the Justice Department plans to start taking a tougher approach with financial fraud cases, emphasizing guilty pleas over fines and promises of good behavior. In layman's terms, this strategy is known as "trying to win the case."

Ten Things You Should Know About #TheRealTANF (The Nation)

Greg Kaufmann clears up common misconceptions about the low-income financial assistance program as it comes up for renewal, highlighting key facts about how it works, who it's reaching, and why it's failing. Spoilers: They're all pretty depressing.

Southern poverty pimps (Salon)

Michael Lind argues that, like so much in American culture, our economic debate is all about the North-South divide—specifically, between the northern model that invests in people and the southern model that relies on treating them as poorly as possible.

How the ultra-rich are pulling away from the 'merely' rich (WaPo)

Dylan Matthews notes that new data from Piketty and Saez show inequality is increasing even at the very top, where people are getting so rich that they're discovering previously unknown categories of richness, like the Lewises and Clarks of affluence.

Tim Price is Deputy Editor of Next New Deal. Follow him on Twitter @txprice.

Originally posted to Daily Kos Economics on Wed Feb 20, 2013 at 07:25 AM PST.

Also republished by ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement and Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Have one suggestion for furloughed fed. emps. (0+ / 0-)

    Spend your unpaid day off occupying DC. You can rotate with your fellow furloughees, share rides, take a snack, beg passing congress critters for lunch money, anything to keep an in-your-face presence. Ware your worst pair of pants and have a smudged face child pulling on the knees.

    Remember that most of these bastages and bastagesses don't have a heart or a conscience, but you can certainly force them to act as if they did.

  •  Maybe better not to dive into "deep" cuts. (0+ / 0-)

    I couldn't get through that Prospect article with a straight face.

    The cuts to all of the non-defense discretionary spending will be a total of $42.7 billion.

    On this very page, we see

    The President’s plan will immediately invest $50 billion
    By the time all is said and done, Sandy Hook relief will come out to nearlyh $60 billion.

    It's very hard for me to believe that people will suffer if the administration doesn't want them to.

    Will there be a lot of inconvenience?
    Sure.

    Will our legilatures have to do some work?
    Damned right.

    Is all this politicking impressive?
    Oh yeah.

    Should we fear the sequester?
    Can't see any reason yet.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Wed Feb 20, 2013 at 03:26:49 PM PST

  •  Don't prosecute banks (0+ / 0-)
    Ben Protess reports that the Justice Department plans to start taking a tougher approach with financial fraud cases, emphasizing guilty pleas
    Prosecute and jail the bankers who did the crimes.  Corporations are NOT people, so don't charge corporations with crimes.  Charge the corporate employees who broke the law and the senior management who ordered the law breaking---or didn't order it but who rewarded the law breakers.
  •  Horse. Barn door. Statute of limitations. (0+ / 0-)
    Ben Protess reports that the Justice Department plans to start taking a tougher approach with financial fraud cases, emphasizing guilty pleas

    The Dutch kids' chorus Kinderen voor Kinderen wishes all the world's children freedom from hunger, ignorance, and war.

    by lotlizard on Thu Feb 21, 2013 at 01:11:03 AM PST

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site