July 26

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

Next Big Battle in Washington: Bush’s Tax Cuts (NYTimes)
The Bush tax cuts are scheduled to expire at the end of the year, offering both sides an opportunity to score points in this fall’s elections.

Timothy Geithner: Allow Bush Tax Cuts For The Wealthy To Expire (HuffPo)
The Treasury Secretary took to the Sunday talk show circuit to make the administration’s case for renewing tax cuts for the middle class while eliminating cuts that benefit the wealthy.

Elizabeth Warren (NYTimes)
Another name to add to the growing roster of support for Warren as head of the CFPB: The New York Times.

The political genius of supply-side economics (FT)
Martin Wolf warns that the radical conservatives who are setting the GOP’s fiscal policy are a danger to the U.S. economy and the world — and they’re winning.

Wall Street Still Doesn’t Have a Sheriff (NYTimes)
Richard Sauer argues that the SEC’s recent settlement with Goldman Sachs doesn’t help to establish a consistent standard for punishing corporate malfeasance.

Elizabeth Warren Lacks Experience? Says Who? (TNR)
Warren’s time as head of the Congressional Oversight Panel demonstrates that she’s an effective leader capable of handling a huge workload and balancing diverse perspectives. More than can be said for a lot of Washington insiders.

Why Obama will nominate Warren (Reuters)
Felix Salmon writes that once the debate is framed as Warren vs. Not-Warren, the eventual outcome is clear.

Women on the Verge (HuffPo)
Robert Kuttner suggests that being outside the boys’ club has allowed progressive women ranging from Elizabeth Warren to Nancy Pelosi to become bolder leaders in the fight for financial reform.

Reverse Psychology? (Economist’s View)
Progressive economists wonder, is the Obama administration’s decision to talk up the strength of the recovery part of some cunning plan or a sign of mental illness?

Obama’s Depressed Liberal Base (Daily Beast)
And yet another name in support of Warren: Matt Yglesias, who thinks she may be the cure to what ails liberals.

Industries Find Surging Profits in Deeper Cuts (NYTimes)
Despite posting record profits, many companies aren’t planning to put anyone back to work any time soon.

Credit scoring and unemployment (Slacktivist)
Fred Clark notes the growing use of credit checks to screen job applicants and its absurdly unfair impact on the poor.

Liberalism and Big Business (MoJo)
Kevin Drum argues that with the balance of power this far out of whack, progressive taxation alone is not enough — we need safeguards for basic human dignity.

Longer Unemployment Equals Worse Re-employment (NYTimes)
The Economix blogs highlights a Pew survey which finds that those who have been out of work the longest are less likely to be happy with the new jobs they find.

For Growing Ranks of 99ers, No Help Coming (Washington Independent)
More bad news for people who could use some good news. Given the difficulty of renewing existing unemployment benefits, Congress won’t even consider extending them past 99 weeks.

Who Cooked the Planet? (NYTimes)
Paul Krugman attributes the failure of the climate bill to politicians who lack courage and coal and oil companies with plenty of cash to burn.

Four Ways to Kill a Climate Bill (NYTimes)
Lee Wasserman argues that the president and legislators chose to skirt the issue and write a bill that would appease corporate interests instead of engaging the public.

Deportation of illegal immigrants increases under Obama administration (WaPo)
If only the administration would put that much effort into passing meaningful immigration reform.

Afghanistan war logs: Massive leak of secret files exposes truth of occupation (Guardian)
Newly disclosed reports portray Afghanistan as a country spiraling into chaos and reinforce doubts about the U.S.’s continued military presence in the region.

The War: A Trillion Can Be Cheap (NYTimes)
With no tax hikes to pay for it, America’s most expensive war has been accompanied by the least sacrifice from its citizens.

Afghanistan war logs: Massive leak of secret files exposes truth of occupation (Guardian)
While we spend $100 billion a year in Afghanistan and have no room for roads bridges, elders, education in our budget this activity shows how poorly our military impact is working.