Top Items:
James Pethokoukis:
Panic at the White House? Gloomy Goldman Sachs sees high unemployment, possible recession — Last night in a new report, Democrat-friendly Goldman Sachs dropped an economic bomb on President Obama's chances for reelection (bold is mine): … Alarms bells must be ringing all over Obamaland today.
Paul Krugman:
The Political Economy of the Lesser Depression — Everyone in the forecasting business is scrambling to mark down both their estimates of second-quarter growth and their forecasts for later in the year. Goldman Sachs (no link) was pretty optimistic a few months ago; now they've grown quite pessimistic:
Discussion:
TalkLeft, Corey Robin, Grasping Reality …, Rortybomb and ThinkProgress
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Digby / Hullabaloo:
Bizarroworld economics — So I'm reading this James Pethokoukis blog post at Reuters about Goldman Sach's grim new outlook on unemployment. This is the wrap up: … So what's the recommendation? … He's also for slashing spending, but the real answer to our prayers is tax cuts. Seriously.
Joe Nocera / New York Times:
The Journal Becomes Fox-ified — It's official. The Wall Street Journal has been Fox-ified. — It took Rupert Murdoch only three and a half years to get there, starting with the moment he acquired the paper from the dysfunctional Bancroft family in December 2007, a purchase that was completed …
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Los Angeles Times:
House Republicans brace for compromise on debt — GOP leaders turn to their most trusted budget expert, Rep. Paul D. Ryan (R-Wis.), to explain to the rank and file what could happen if Congress fails to raise the debt ceiling. — Reporting from Washington— Republican leaders in the House …
Discussion:
americanthinker.com, Outside the Beltway, Booman Tribune, Washington Monthly and Calculated Risk
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Alexander Bolton / The Hill:
GOP leaders ignore Obama's 36-hour deadline to come up with a debt plan — House Republican leaders have missed a 36-hour deadline President Obama set during a Thursday meeting for lawmakers to give him a plan to avert a national default. — The deadline came and went Saturday morning without …
Discussion:
CNN
Alexander Bolton / The Hill:
Reid and McConnell expect to unveil debt-limit ‘Plan B’ next week
Reid and McConnell expect to unveil debt-limit ‘Plan B’ next week
Discussion:
The Gateway Pundit
Bloomberg:
Obama Eliminates Warren as Consumer Head — President Barack Obama has chosen a candidate other than Elizabeth Warren as director of the new Consumer Financial Protection Bureau, according to a person briefed on the matter. — The president's choice is a person who already works at the consumer agency, the person said today.
myfoxny.com:
Woman Gropes TSA Agent's Breast at Security Checkpoint — PHOENIX - We hear a lot of complaints about security screeners groping airline passengers. — But now, a Colorado woman is accused of putting her hands on a TSA agent at Sky Harbor International Airport in Phoenix.
Discussion:
Mediaite
Larry Flynt / Washington Post:
Rupert Murdoch went too far — One of the few views Rupert Murdoch and I share is the importance of a free press. — I'm sure we would both agree that it is an unimpeachable right, especially in a day and age when few pure freedoms still exist in this country.
Discussion:
Guardian, more at Mediagazer »
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Peter Kafka / AllThingsD:
Dow Jones CEO Les Hinton Stepping Down
Dow Jones CEO Les Hinton Stepping Down
Discussion:
Crooks and Liars, The Lede, Salon, Guardian, ThinkProgress and Wall Street Journal, more at Mediagazer »
James Oliphant / Los Angeles Times:
Michele Bachmann leaves church accused of anti-Catholic bias — Taking a page from President Obama's political playbook, Michele Bachmann has formally left a church in Minnesota accused of holding anti-Catholic views. — According to CNN, the church that Michele Bachmann and her husband Marcus …
Discussion:
The Other McCain, New York Sun, Washington Monthly, ThinkProgress and Politics
The Huffington Post:
Elizabeth Warren: Government Hasn't Sufficiently Probed Foreclosure Abuses (VIDEO) … WASHINGTON — A top Obama administration official on Thursday questioned the scope of the state and federal investigations into alleged mortgage abuses and “illegal” foreclosures perpetrated …
Discussion:
Firedoglake
Tim Cavanaugh / Hit & Run:
Carmageddon Shaping Up as Big Nothing — Rush hour traffic was light in Los Angeles Friday, in the final hours before closure of Interstate 405 for a few miles brought on a steel-and-rubber stampede of rich drivers that experts claim will destroy all intelligent life in California.
Discussion:
Power Line, L.A. NOW and The Informer
Tom Ricks / Foreign Policy:
Was John F. Kennedy the flat-out absolute worst U.S. president of the 20th century? — As I studied the Vietnam war over the last 14 months, I began to think that John F. Kennedy probably was the worst American president of the previous century. — In retrospect, he spent his 35 months …
Discussion:
Outside the Beltway and The Daily Dish