Daily Digest - April 27: A Fairy Tale Ending for Austerity

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

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"Politics Is at the Root of the Problem" (The European)

Roosevelt Institute Senior Fellow Joseph Stiglitz notes that before new economic thinking can really make an impact, we need political reform to help persuade our leaders that economic policy should be based on models that account for variables such as "reality."

Death of a Fairy Tale (NYT)

Paul Krugman writes that due to Europe's slide into recession and your failure to clap hard enough, the confidence fairy is finally dead. But the zombie economic theories that spawned it continue to shamble around, feasting on the brains of policymakers.

Ben Bernanke vs. Paul Krugman (WaPo)

Ezra Klein recaps the recent dispute between the two bearded titans concerning Bernanke's failure to take his own advice about the need for an aggressive response to high unemployment. Gentlemen, there's only one way to settle this: to the mud pit!

A Worrisome Rise in Jobless Claims (NYT)

Spring has sprung, which means the sun is shining, flowers are blooming, birds are chirping, and as David Leonhardt notes, jobless claims have spiked, signaling that the recovery could be gasping and wheezing again. Maybe it's because of all the pollen.

The Other America, 2012: Confronting the Poverty Epidemic (The Nation)

Sasha Abramsky writes that with about 47 million of our fellow citizens living at or below the poverty line, Americans are waking up to the fact that ignoring poverty won't make it go away any more than ignoring our bills means we don't have to pay them.

Occupy's Big Stakes on May Day: Relevance (MoJo)

Josh Harkinson highlights the planned blockade of the Golden Gate Bridge, one of the many Occupy protests that will mark May 1, and asks whether it will help the movement create real political change or just a lot of really annoyed motorists.

Disorganized (TNR)

Alec MacGillis looks at the internal debate over who will lead AFSCME and how it reflects the broader debate about whether national Democrats leaving unions to twist in the wind means unions should return the favor and focus their efforts elsewhere.

How the House GOP's Budget Would Hurt Kids (Think Progress)

Travis Waldron reports that House Republicans plan to teach children from low-income families some important lessons with their new budget, like the fact that there's no such thing as a free lunch -- or for the really unlucky kids, any lunch at all.

Beyond the Debt-for-Diploma System: 10 Ways Student Debt is Blocking the Economic Mobility of Young Americans (Demos)

Jack Temple, Heather McGhee, and Tamara Draut listiclize their explanation of how the rising cost of higher education means many young Americans either miss out on learning or get to learn how awesome it is to be buried up to their necks in debt.

Young, Restless, and Not Voting (TAP)

Clare Malone notes that Barack Obama has lost some of his rock star glow among Millennials, who aren't as enthused about this election as they were in 2008, when they didn't know we'd spend the next four years rehashing arguments their grandparents settled.

With additional research by Elena Callahan.