The Personal Pinch of a Troubled Economy
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The Great Recession wreaked havoc with the economy, and the slow recovery is producing headlines about a possible "double-dip." Americans have a right to be worried, and they are. How potent is psychology as a force for making things better or worse? Also, appointments to the Congressional "Super Committee," and the political lessons from Wisconsin's recall elections.
Banner image: People walk past the New York Stock Exchange before the opening bell August 9, 2011. Photo by Stan Honda/AFP/Getty Images
Appointments to Congressional 'Super Committee' Nearly Complete ()
The 12-member, bipartisan Super Committee created by the debt-ceiling deal has enormous responsibility to exercise in a short time: identify $1.5 trillion in budget cuts by Thanksgiving. Nine of the 12 have now been chosen by leaders of the House and the Senate. Jamie Dupree is Washington Bureau Chief for the Cox Media Group, parent of the Atlanta Journal-Constitution.
Economics and High Anxiety ()
The debt-ceiling debate, S&P downgrade, trouble in Europe, wild stock-market gyrations and warnings about a double-dip recession or worse… The grinding reality of long-term unemployment is taking a heavy toll, and it's a looming threat in workplaces around the country. What are consumers, investors and middle class people to think? How can they look past all the bad news and make rational economic decisions? What's the impact of the prolonged anxiety on individuals, families, neighborhoods and the economy itself?
- E.S. "Jim" Browning: Wall Street Journal, @WSJ
- Eric Tyson: financial consultant and syndicated columnist
- Don Peck: The Atlantic
- Erin Currier: Pew's Economic Mobility Project
High Turnout in Wisconsin Recall Did Not Benefit Democrats ()
The political world was watching Wisconsin yesterday, where unprecedented recall elections were an exercise in summertime politics. Because hundreds of thousands protesters gathered at the state capitol in March, Democrats thought they could outdraw Republicans for an August showdown and seize control of the State Senate. It didn't happen that way. Going into yesterday's special elections, Republicans controlled the Wisconsin State Senate with 19 members to 14 Democrats. The GOP is still in control, with a reduced margin of 17 to 16, as Craig Gilbert reports in the Milwaukee Journal-Sentinel.
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