Econ 101: October 21, 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.

  • Senate Republicans — joined by three Democrats — voted last night to filibuster the administration’s plan to provide $35 billion in aid to states to prevent layoffs. [Washington Post]
  • The Senate yesterday finally confirmed John Bryson to be Commerce Secretary. [Reuters]
  • European Union leaders “have put off crucial decisions on how to stop a sovereign debt meltdown in their currency zone.” [Reuters]
  • The ratings agency Standard & Poor’s said that it “will likely lower the credit standing of five European nations, including top-rated France, by one or two notches if the region slips into recession.” [CNBC]
  • The poverty rate rose “in almost all U.S. states and cities in 2010, despite the end of the longest and deepest economic downturn since the Great Depression the year before.” [Reuters]
  • The Federal Reserve is “starting to build a case for a new program of buying mortgage-backed securities to boost the ailing economy.” [Wall Street Journal]
  • The Tea Party looks to take over Michigan’s higher education board. [Inside Higher Ed]
  • Congressional leaders are becoming more involved with the fiscal super-committee “amid growing concern the panel’s members could be deadlocked.” [Wall Street Journal]