Econ 101: September 11, 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.

  • Sales of the iPhone5 could add up to half a percentage point to U.S. GDP. [Wall Street Journal]
  • Congress is planning to vote on a six month continuing resolution on Thursday. [Politico]
  • The U.S. has made a profit of $12 billion on its rescue of mega-insurer American International Group. [Financial Times]
  • Germany’s Finance Minister criticized the U.S. debt level in a speech today. [Reuters]
  • One-third of Americans described themselves as financially lower class in a new survey; four years ago, 25 percent described themselves that way. [The Hill]
  • California Lieutenant Governor Gavin Newsom (D) fired back at mortgage companies for what he calls “threats” against local communities looking to seize underwater mortgages. [Reuters]
  • North Dakota joined the more than two dozen states seeking waivers from the No Child Left Behind education law. [Associated Press]