Econ 101: December 15, 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.

  • Democrats are considering dropping their call that a payroll tax cut extension to be paid for by a surtax on millionaires. [Financial Times]
  • Cabinet secretaries formally alerted employees yesterday that the government may shut down at the end of the week, as negotiations over funding bog down. [Washington Post]
  • Foreclosure filings fell last month, “partly the result of a holiday eviction moratorium by mortgage giants Fannie Mae and Freddie Mac.” [Bloomberg]
  • The new treaty meant to stem Europe’s fiscal woes has hit some speed bumps. [New York Times]
  • A new report shows that “nearly half of America’s public schools didn’t meet federal achievement standards this year, marking the largest failure rate since the much-criticized No Child Left Behind Law took effect.” [San Francisco Examiner]
  • Regulators say they have found the money lost by failed investment firm MF Global, “but must sort out which transactions were legitimate before more money can be released to customers.” [Reuters]
  • How China is making the holidays here in the U.S. more expensive. [Wall Street Journal]
  • Federal Reserve Chairman Ben Bernanke yesterday reassured Republican senators that “the Fed plans no additional aid to European banks amid the region’s sovereign debt crisis.” [Bloomberg]