Econ 101: October 2, 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.

  • Senate leaders are working on a plan to avoid the so-called “fiscal cliff,” a series of spending cuts and tax increases scheduled to take place in January. [New York Times]
  • The World Bank’s new chief economist believes the European economic crisis could hold back the world economy for years. [Wall Street Journal]
  • Americans are putting record amounts of money into savings accounts. [Washington Post]
  • U.S. manufacturing is picking up, but Asia and Europe are not seeing similar gains. [Financial Times]
  • Federal prosecutors have filed new charges against associates of Ponzi schemer Bernie Madoff, claiming that his fraud began in the 1970s. [CNN Money]
  • Chicago school teachers will vote today on whether or not to ratify the deal that ended their recent strike. [Reuters]
  • An affirmative action case being heard by the Supreme Court could affect K-12 education. [Education Week]