Econ 101: September 16, 2011

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • A new book by former Wall Street Journal reporter Ron Suskind “claims that President Obama’s response to the economic crisis was hampered by a White House economic staff plagued by internal rivalries, a domineering chief adviser and a Treasury secretary who dragged his feet on enforcing decisions with which he disagreed.” [New York Times]
  • The book says that Treasury Secretary Tim Geithner “ignored an order from President Barack Obama calling for reconstruction of major banks.” [Associated Press]
  • During a trip to Europe today, Geithner pressed euro zone ministers “to leverage their 440 billion euro bailout fund and free up more resources to tackle a two-year-old debt crisis.” [Reuters]
  • House Democrats “are accusing the Obama administration of ignoring the lingering mortgage crisis and threatening tens-of-millions of Americans with foreclosure in the process.” [The Hill]
  • The Senate yesterday sent the House of Representatives “a measure to fund disaster aid by twice as much as the House wants to spend,” voting 62-37 for $6.9 billion “to cover disaster response until October 2012.” [Reuters]
  • The IRS announced yesterday that it has “collected an additional $500 million from a disclosure program designed to collect taxes from accounts stashed offshore.” [The Hill]

  • Ten years after its passage, “most educators and politicians agree that No Child Left Behind — President George W. Bush’s signature education policy — isn’t working.” [McClatchy]
  • Last year, “nearly 41 percent of the nation’s single mothers with children under age 18…lived on incomes below the federal poverty line.” [Huffington Post]