Econ 101: February 13, 2012

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.

  • President Obama will unveil a budget today that balances short-term economic stimulus ideas with long-term plans to reduce the nation’s deficit. [New York Times]
  • Obama’s budget would raise taxes on millionaires and spend billions on infrastructure projects aimed at creating jobs. [Reuters]
  • Amid fires and riots in the streets, the Greek parliament approved a package of austerity measures Sunday, moving the country one step closer to a second bailout. [CNN Money]
  • Weekend talks on how to extend the payroll tax cut failed to end in a compromise between Democratic and Republican negotiators. [Politico]
  • Completion of the mortgage settlement between states and banks will likely lead to a wave of foreclosures that had been temporarily halted by the negotiations. [CNN Money]
  • The Securities and Exchange Commission has launched an examination into the nation’s largest private equity firms, which have largely escaped regulatory scrutiny in the past. [New York Times]
  • The White House is stepping up pressure on Fannie Mae and Freddie Mac to provide principal reductions for homeowners with government-backed mortgages. [The Hill]
  • GE plans to hire 5,000 U.S. military veterans over the next five years and will invest $580 million in American factories this year. [Reuters]