Increasingly, the current economic crisis is becoming a political crisis.
Europe’s central bank leaders called for swift action on that continent’s debt as a measure to stem what is turning into a worldwide debt crisis. That crisis is causing many in Europe to question the wisdom of the existing economic union structure.
President Obama, who used a Labour Day address to union workers in Detroit to tout a coming jobs plan, meanwhile, is hoping to get a good reception when he addresses similar issues before G-7 leaders this Thursday. Whether it all adds up to just more talk remains to be seen. Economic issues have led to Obama’s approval rating reaching a new low.
Meanwhile, various versions of the U.S. Securities and Exchange Commission’s response to a National Archives request addressing records destruction indicated it waffled on its own internal policies.