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.
- New York City labor unions have voted to back ongoing protests on Wall Street, in a move that could ‘send thousands more people into the streets.” [Huffington Post]
- For corporate CEO’s, “the eye-popping severance package continues to thrive” despite efforts to crack down on excessive pay.” [New York Times]
- Federal Reserve Chairman Ben Bernanke said yesterday that “long-term unemployment is an American ‘national crisis’ and suggested that Congress should take further action to combat it.” [Associated Press]
- The Federal Reserve’s new effort to boost the economy — known as “operation twist” — “might be more powerful than many investors expect.” [Wall Street Journal]
- The House yesterday “gave quick approval to a stopgap spending bill that will finance the government for the first four days of October,” until lawmakers can return and vote on a longer-term bill. [New York Times]
- “One in five homeowners whose mortgages were modified under a program aimed at reducing foreclosures defaulted again within a year,” according to the latest data. [Bloomberg]
- Senate Majority Whip Dick Durbin (D-IL) said yesterday that, “at the moment, Democrats in Congress don’t have the votes to pass President Obama’s jobs bill.” [The Hill]
- House Republicans on the Appropriations Committee yesterday released their budget for labor, health, and human services; it “includes cuts to education grants, job training and heating subsidies.” [Reuters]
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