Daily Digest - November 5: The Good Kind of Unemployment

Nov 5, 2012Tim Price

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

Unemployment Ticks Up -- And That's a Good Thing (Prospect)

Roosevelt Institute Fellow Mike Konczal explains that the slight increase in unemployment in the latest jobs report is an indication that more people are starting to believe the economy is growing enough that there just might be enough room in it for them.

Sandy Versus Katrina (NYT)

Paul Krugman notes that the difference between the response to the current disaster and the Bush administration's failure in New Orleans shows that federal aid works better when led by someone who doesn't think effective government is an oxymoron.

Hurricane Sandy and the Myth of the Big Government-vs.-Small Government Debate (Rolling Stone)

Matt Taibbi writes that the Sandy response demonstrates the hypocrisy of those who complain about government money going to parasites until there's an emergency, like a hurricane endangering their lives or an economic collapse endangering their bonuses.

Massive Surge of Republican Money in Last Ditch Effort to Sink Obama (AlterNet)

Roosevelt Institute Senior Fellow Tom Ferguson, Paul Jorgensen, and Jie Chen warn that conservative groups are trying to recreate the 2000 election by inundating swing states with ad buys in the closing days until voters give in from sheer exhaustion.

Attacks on Labor Put Unions on the Defensive in Election 2012 (The Nation)

Josh Eidelson writes that while President Obama hasn't exactly been a working class champion during his first term, union leaders feel it's time to set aside hopes for a wave of pro-labor legislation and focus on not being totally obliterated over the next four years.

The Gilded Age vs. the 21st century (WaPo)

E.J. Dionne argues this election began with the debt ceiling showdown, when Obama finally realized there was no working with radicalized Republicans. Now voters must decide whether the GOP deserves a negotiating partner who shares its nostalgia for the 1890s.

Businessmen as Presidents: A Historical Circle (NYT)

Robert Shiller notes that Americans have been reluctant to elect businessmen since Hoover, but many are drawn to Romney by the fear that the U.S. is in decline and the hope that they could be like him if they work hard or discover some buried pirate treasure.

Does Unemployment Make People More Likely to Vote? (Monkey Cage)

Matthew Incantalupo finds that while voters who lose their jobs while unemployment is low tend to be dispirited come Election Day, those who lose their jobs where unemployment is high tend to turn out, perhaps to invite politicians to share the experience.

One Safety Net That Needs to Shrink (NYT)

Gretchen Morgenson writes that there are a select group of moochers who have become entitled to government largesse under the Obama administration's watch without taking any steps to better themselves. She speaks, of course, of clearinghouses.

Meet the Most Indebted Man in the World (The Atlantic)

Matthew O'Brien talks to Frank Partnoy about the curious case of French trader Jérôme Kerviel, who owes his former employer $6.3 billion for the fraudulent deals he made, and what it will take for banks to keep an eye on employees before a fortune goes missing.

Share This