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Cautious Moves on Foreclosures Haunting Obama (NYT)

Binyamin Appelbaum writes that the housing market Obama expected to recover along with the economy has instead proved to be his biggest challenge, and leaving underwater homeowners adrift may wind up sinking his chances for reelection.

Paul Ryan's plan for America is not credible (FT)

Martin Wolf argues that despite Paul Ryan's reputation for brutal honesty, the warmed over "starve the beast" strategy in his budget plan is more brutal than honest. The strongest evidence for his seriousness may be his ability to sell it with a straight face.

Paul Ryan's Faux Populism (Robert Reich)

Reich highlights Ryan's recent remarks condemning a system in which those who are politically connected get all the breaks, like billionaire casino and oil moguls buying a friendly White House for themselves. Just kidding; he probably meant poor people.

With Romney-Ryan, GOP Becomes Grand Old Private-Equity Party (The Nation)

John Nichols notes that Ryan has more in common with Romney than being the wealthy scion of a well-connected family. He also has a brother who's in private equity, and the policies their administration would support are brimming with brotherly love.

False piety and the Medicare debate (WaPo)

E.J. Dionne writes that we could be having a real debate about the future of Medicare and the purpose of government if the candidates would be forthright and commentators would stop responding to them like fussy etiquette advice columnists.

Obama's European Socialist Empire (TAP)

Yannis Palaiologos makes the case that those who claim President Obama is pursuing European socialist policies have a serious misunderstanding of Europe, socialism, and the president's policies. In other words, they're Republican politicians.

The unrepentant and unreformed bankers (SF Chronicle)

Phil Angelides argues that we need to root out corruption and implement real reform in order to deal with bankers who got caught with their hands in the cookie jar and responded by demanding oatmeal raisin instead of chocolate chip next time.

This Week in Poverty: Here's to the Houston Janitors (The Nation)

Greg Kaufmann notes that the 3,200 janitors who recently ended their strike in Houston were victorious in obtaining a raise of 25 cents an hour over four years, but they still had to pry those extra quarters out of their employers' hands with a crowbar.

How Nonprofits Spend Millions on Elections and Call it Public Welfare (ProPublica)

Kim Barker reports that nonprofit groups that aren't supposed to be spending primarily on political activities are flouting the law by exploiting loopholes, like donating money to other political groups, or with tried and true tactics like flat-out lying to the IRS.

The Track-Star Economy (New Yorker)

James Surowiecki writes that due to a backwards immigration policy focused on bringing in family members rather than retaining skilled workers, America has become a training grounds for the best and brightest of our own future competition.