New York Times Editors: "If you wanted to reproduce the conditions that led to the Great Recession in 2007, the easiest way would be the plan unveiled last week by House Republicans: gut the regulators who are supposed to keep the worst business practices in check." Read the entire editorial. CW: The nicest thing I can say about House Republicans is that they are corrupt, devious fuckers. And that would be my polite mode.
Get off the Dime, Ben! Christina Romer in the New York Times: "By law, the Fed is supposed to aim for maximum employment and stable prices.... The Fed is the only plausible source of immediate help for the American economy. It was set up as an independent body precisely so that somebody can do what's right when politicians can't or won't.... The academic literature shows that monetary policy can be very effective at reducing unemployment in situations like ours.
Peter Wallsten of the Washington Post has a long piece on President Obama's tense relationships with Hispanic & gay civil rights leaders.
One More Reason to Love Joe Biden. The Vice President invites the press and their families to his home at the Naval Observatory every year. My son's excuse for dousing David Brooks: 'Biden told me to!' -- Ben Smith of BuzzFeed
Robert Reich: "The public’s growing disdain of the Supreme Court increases the odds that a majority will uphold the constitutionality of Obamacare." CW: I happen to think Reich is being a cockeyed optimist here, but read his rationale & see what you think. Also, bear this in mind: the public likes the individual mandate even less than they like the Court. So, if Reich is correct, that John Roberts is concerned about the Court's unpopularity, wouldn't Roberts want to do the popular thing & squish the individual mandate?
Missed this story which Steve Benen highlights in "This Week in God": Laurie Goodstein of the New York Times: "... a group of Roman Catholic nuns is planning a bus trip across nine states this month, stopping at homeless shelters, food pantries, schools and health care facilities run by nuns to highlight their work with the nation's poor and disenfranchised. The bus tour is a response to a blistering critique of American nuns released in April by the Vatican's doctrinal office.... The bus tour is to begin on June 18 in Iowa and end on July 2 in Virginia. The dates overlap with the 'Fortnight for Freedom,' events announced by Catholic bishops to rally opposition to what they see as the Obama administration's violations of religious freedom."
Rosalind Helderman of the Washington Post: Senate Majority Leader Harry "Reid [D-Nevada] is now activating the vaunted Nevada Democratic machine he has helped build on behalf [of] Rep. Shelley Berkley. The seven-term Las Vegas congresswoman is challenging Reid's junior partner, Republican Sen. Dean Heller, for his job." Nevada offers "a rare opportunity for a Democratic pickup." The state's primaries are this Tuesday; both Berkley & Heller are expected to win easily.
The Obama campaign runs a new Web ad hitting Romney for advocating the firing of teachers, firefighters & police:
Washington Post: "An increasingly effective Syrian rebel force has been gaining ground in recent weeks, stepping up its attacks on government troops and expanding the area under its control even as world attention has been focused on pressuring Syrian President Bashar al-Assad to comply with a U.N. cease-fire. The loosely organized Free Syrian Army now acknowledges that it is also no longer observing the truce, although rebel commanders insist they are launching attacks only to defend civilians in the wake of concerns generated by two recent massacres in which most of the 186 victims were women and children." ...
... Al Jazeera: "Violence is continuing in Syria, with activists reporting government assaults on the southern city of Deraa and Homs in the centre of the country. At least 52 civilians were killed around the country outside Damascus on Saturday, according to the Syrian Observatory for Human Rights, Britain-based activist group."
AFP: "The IMF and US both praised a Eurogroup deal giving Spain a lifeline of up to €100 bn ($125 billion) to save its stricken banks, with International Monetary Fund Managing Director Christine Lagarde calling it a 'credible back stop' for the banking system."
Reuters: "Iran's state finances have come under unprecedented pressure and the resilience of ordinary people is being tested by soaring inflation as oil income plummets due to tightening Western sanctions and sharply falling oil prices. Tough financial measures imposed by Washington and Brussels have made it ever more difficult to pay for and ship oil from Iran. Its oil output has sunk to the lowest in 20 years, cutting revenue that is vital to fund a sprawling state apparatus."
AP: "Hosni Mubarak is slipping in and out of consciousness eight days after the ousted Egyptian leader was sent to prison to begin serving a life sentence, a security official said on Sunday. With rumors of the former president's death spreading rapidly, authorities granted his wife, former first lady Suzanne Mubarak, and the couple's two daughters-in-law special permission to visit him in Cairo's Torah prison early that morning."
AFP: "Queen Elizabeth II's husband Prince Philip celebrates his 91st birthday at home on Sunday, after five days of hospital treatment for a bladder infection sparked concerns about his health. The outspoken Duke of Edinburgh left London's King Edward VII hospital on Saturday, just in time for his birthday."