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.
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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:
Grasping Reality …, TalkLeft, Rortybomb and ThinkProgress
Digby / Hullabaloo:
Bizarroworld economics — So I'm reading this James Pethokoukis blog post at Reuters about Goldman Sachs' 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.
Discussion:
Firedoglake and Grasping Reality …
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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Alexander Bolton / The Hill:
GOP leaders ignore Obama's 36-hour deadline for 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 a response from House Speaker John Boehner (R-Ohio).
Discussion:
The Political Carnival and CNN
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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 …
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
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:
Don Surber, Alan Colmes' Liberaland, Mediaite and Scared Monkeys
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:
The Daily Dish and Outside the Beltway
David Segal / New York Times:
Law School Economics: Ka-Ching! — WITH apologies to show business, there's no business like the business of law school. — The basic rules of a market economy — even golden oldies, like a link between supply and demand — just don't apply. — Legal diplomas have such allure …
Discussion:
Lawyers, Guns & Money and Althouse
Don Van Natta Jr / New York Times:
Stain From Tabloids Rubs Off on a Cozy Scotland Yard — LONDON — For nearly four years they lay piled in a Scotland Yard evidence room, six overstuffed plastic bags gathering dust and little else. — Inside was a treasure-trove of evidence: 11,000 pages of handwritten notes listing nearly …
Discussion:
The Moderate Voice, The Reality-Based Community, Gawker and Reuters, more at Mediagazer »
Mark Steyn / National Review:
The Great Charade — There is something surreal and unnerving about the so-called “debt ceiling” negotiations staggering on in Washington. In the real world, negotiations on an increase in one's debt limit are conducted between the borrower and the lender.
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:
Hot Air, L.A. NOW, Power Line and The Informer