May 25

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

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How we would cut America’s debt (WaPo)
Six think tanks will present their long-term fiscal plans at today’s Peterson Foundation summit. Only the Roosevelt Institute Campus Network’s Budget for a Millennial America draws on the ideas of young Americans to reduce the debt while investing in the future.

Democrat Wins G.O.P. Seat; Rebuke Seen to Medicare Plan (NYTimes)
Paul Ryan’s Very Serious Budget helped flip NY-26 to the Democrats for the first time in 40 years, with margins that look similar to the wave election of 2006.  Clearly, his ideas are just too pure for this world.

Retirement And The Recession: Savings Destroyed For One Out Of Four Older Workers, Says AARP Survey (HuffPo)
Of course, older Americans do have some very compelling reasons to be wary of anyone who wants to mess with their retirement benefits.

House GOP Escalates Attack on Elizabeth Warren, Consumer Bureau (The Nation)
A House hearing turned nasty yesterday as Republicans accused Warren of being a liar who seeks to crush her enemies beneath the iron fist of consumer protection.

Why Elizabeth Warren Scares Republicans (CAF)
With a leader like Warren at the helm, the CFPB could turn out to be a remarkably effective watchdog — which is the last thing the financial industry wants.

Partners, Not Regulators: The Federal Reserve’s Role In The Financial Collapse (HuffPo)
In their new book, Gretchen Morgenson and Joshua Rosner write that regulators like Alan Greenspan decided crises were too rare to let rules get in the way of their friendship with the banks they were meant to oversee.

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Why the Rich Love High Unemployment (Truthout)
Mark Provost explains how weak unions and labor laws and lopsided government intervention have encouraged companies to put profits above people and allowed employers to name their price.

Where Do You Fall on the Income Curve? (NYTimes)
Catherine Rampell points out that income disparities are soaring among high earners, while everyone else remains clustered at the bottom, nursing their aching wallets.

Dominique Strauss-Kahn and the union maid (Guardian)
Dean Baker examines how at-will employment silences complaints, and why that makes union backing so important to women like the one DSK allegedly attacked.

Row Over New IMF Chief Intensifies (Naked Capitalism)
Yves Smith notes that while Europe thinks it’s protecting its interests by maintaining a white-knuckled grip on the leadership of the IMF, it may really be poisoning the waters of international cooperation and denying itself strong independent guidance.

Is There Any Hope for Greece? (NYTimes)
Experts including Edward Harrison and Simon Johnson weigh in on Greece’s fiscal mess and the political will needed to establish a sane restructuring plan.

A link between climate change and Joplin tornadoes? Never! (WaPo)
Bill McKibben, author of Eaarth, recognizes that recent evidence of climate change kicking into high gear is very alarming and thus better off ignored.

Cantor Says Congress Won’t Pay For Missouri Disaster Relief Unless Spending Is Cut Elsewhere (Think Progress)
Though Joplin is in a state of emergency, the needs of the many are outweighed by the needs of the pain caucus.