What you need to know to navigate today's most critical debates.

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Thanks to Obama, American Left Lies in Smoldering Wreckage (Naked Capitalism)

Roosevelt Institute Fellow Matt Stoller argues that Democrats should learn from their Wisconsin recall failure that they can't win while backing policies that make voters' live worse (though that has been a pretty effective strategy for the GOP).

Four Reasons Why the Left Lost Wisconsin (MoJo)

Andy Kroll looks at some of the more practical reasons behind Scott Walker's victory, ranging from the avalanche of outside money in the race to the fact that his opponents organized so well that his union support somehow rose 1 percent.

Can unions bounce back? (Salon)

Josh Eidelson writes that although political pundits always have eulogies for the labor movement polished and ready to go at times like these, the Wisconsin result illustrates how unions will live to fight another day -- and why they'll have to.

Unions wield new power as shareholders (WaPo)

Harold Meyerson notes that while unions' power and democratic role in the workplace continues to shrink, they're using their pension funds to exert more influence as shareholders, possibly the only people execs find even more annoying.

Republicans Are Wrong: We Need More Equal Pay Litigation, Not Less (Forbes)

NND Editor Bryce Covert writes that Republicans who blocked the Paycheck Fairness Act claiming fear of frivolous lawsuits needn't have worried, as increasingly hostile courts view pay discrimination as a crime outside anyone's jurisdiction.

A Little Optimism at the Federal Reserve (NYT)

Binyamin Appelbaum notes that ahead of the Fed's next policy meeting, members are saying that recent jobs data is worrying, but not neccessarily worrying enough to do anything about it. But maybe soon! Welcome to the new era of clarity.

From Krugmania to Draghia: Five ways to save the euro zone (WaPo)

Brad Plumer runs through potential eurozone end games proposed by ING analysts, ranging from more feasible but useless austerity to controversial Krugmania, which is either a big infusion of stimulus and inflation or a very wonky cover band.

Spain Holds a Trump Card in Bank Bailout Negotiations (NYT)

Nicholas Kulish and Raphael Minder report that Spain has entered bailout negotiations on stronger footing than countries like Greece or Ireland because Europe's leaders really do lose their nerve when forced to pick on someone their own size.

More Young Americans Out of High School Are Also Out of Work (NYT)

Catherine Rampell highlights a new survey that finds 73 percent of young Americans without college degrees think they need more education to boost their job prospects, but high costs and other responsibilities have left them stuck in neutral.

The fortunate 400 (Reuters)

David Cay Johnston writes that IRS data confirms that there is a cabal of Americans exploiting the system and living the high life on handouts while paying little to nothing in taxes. It's not the poor, though; it's the richest households in the country.

With additional research by Danielle Bella Ellison.