Daily Digest - May 21: Fixing the Economy First, but not Yet

May 21, 2013Rachel Goldfarb

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What's the best way to pass a climate bill? Fix the economy first. (WaPo)

According to Brad Plumer, if we’re serious about climate change, we need to solve the jobs crisis first: there’s a connection between a Senator’s “green score” from the League of Conservation Voters and the unemployment rate in his or her state.

As rich gain optimism, lawmakers lose economic urgency (WaPo)

Jim Tankersley reminds us that while the economy and jobs remain a top priority for most Americans, the House has only approved three bills that could be considered economic policy this year- and one of those was the 37th attempt to repeal the Affordable Care Act. 

Camping Out for Five Days, in Hopes of a Union Job (NYT)

Most jobs created since the recession are low-wage, but Jessica Glazer’s story about more than 800 people camping out to apply for the training program at Local 3 of the International Brotherhood of Electrical Workers shows how far people will go to escape that rut.

Sequestration Nation: Budget Cuts Endanger Domestic Violence and Sexual Assault Victims (CAP)

Kwame Boadi lays out the effect of sequestration on one of our most vulnerable populations: domestic violence and sexual assault victims, who are losing services, beds in shelters, and more. These cuts could kill, but Congress has prioritized keeping flights on schedule.

Poverty Flees to the Suburbs (MoJo)

Josh Harkinson breaks down yesterday’s report from the Brookings Institution, showing that the suburban poor now outnumber the urban and rural poor. With most federal anti-poverty spending targeting urban communities, there’s a serious mismatch.

Senator Introduces Bill To Allow Holders Of Student Debt To Refinance (Think Progress)

Bryce Covert reports on Senator Gillibrand’s proposal to force the Department of Education to automatically refinance federal student loans with interest rates above 4 percent to fixed 4 percent loans, which would save nearly 37 million borrowers billions in interest payments.

Ready to Testify on Financial Stability, Lew Is Likely To Be Grilled on IRS Scandal (National Journal)

Catherine Hollander notes that Treasury Secretary Jack Lew is scheduled to deliver the Financial Stability Oversight Council’s annual report this week, but Congress is less interested in the global financial system than it is in what’s going on at the local IRS office in Cincinnati.

The Unemployed Need Bold, Creative Moves from the Fed (The Fiscal Times)

Mark Thoma remembers when the Fed took risks and pushed the rules to their limits in orchestrating the bailout for big financial institutions. Why, he asks, aren’t they maintaining such boldness for the sake of the unemployed?


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