Econ 101: September 19, 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.

• The Obama administration will unveil a deficit reduction plan today “that uses entitlement cuts, tax increases and war savings to reduce government spending by more than $3 trillion over the next 10 years.” [New York Times]

• The plan will include the “Buffett rule,” a new minimum tax for millionaires. [Washington Post]

• Members of the Federal Reserve, “are examining whether to adopt more explicit economic targets to clarify their strategy for lowering unemployment without fueling inflation.” [Wall Street Journal]

• Next month, regulators “will issue a proposal to carry out provisions of the so-called Volcker Rule, part of the Dodd-Frank financial-regulation law, that will clarify the types of offshore trading allowed under the rule.” [Bloomberg]

• Moody’s Investor Services said today that “the still-weak U.S. economy and a pullback in federal support means the outlook for states and local governments remains negative.” [Reuters]

• Former President Bill Clinton yesterday “urged quick action on Obama’s jobs bill and criticized what he termed a ‘huge disconnect’ between Washington politics and the state of the economy.” [The Hill]

• This week, consumer groups will aim to convince the Federal Reserve that “rubber stamping the Capital One Financial Corp takeover of ING Groep NV’s online banking unit would prove that ‘too big to fail’ is alive and well.” [Reuters]

• “Teacher attrition among first year teachers may be as high as 10 percent,” according to new data from the Education Department. [Education Week]