Econ 101: September 22, 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.

  • A House Republican revolt last night — which resulted in a continuing resolution going down in defeat — “underscored the fact that the House Republican majority is still struggling to find unity on major spending bills.” [Politico]
  • President Obama today “is marketing his massive jobs proposal from an outdated bridge that links the home states of his two chief congressional Republican rivals.” [Associated Press]
  • Macroeconomic Advisers estimated that the Fed’s new efforts to boost the economy “could add about 0.4 percentage points to economic output and create about 350,000 jobs over the next two years. “ [New York Times]
  • “Banks could be allowed to continue making risky bets with their own capital”, according to a draft version of the Volcker rule “that dilutes the provision’s original ban on ‘proprietary trading.’” [Wall Street Journal]
  • Regulators are also “yielding to banks and other major traders of commodities on several key provisions in a plan to crack down on speculation.” [CNBC]
  • The Obama administration “is poised to broaden federal influence in schools by scrapping key elements of No Child Left Behind.” [Boston Globe]
  • “The cost of putting two children in child care exceeded median annual rent payments in every state last year,” according to the National Association of Child Care Resource & Referral Agencies. [CNN Money]
  • Do regulations really kill jobs? Not so much. [ProPublica]