Economics

They lord over empty parking lots in Hazard, Kentucky; Twinsburg, Ohio; and Lewiston, Washington like the ruins of a lost civilization. Vacant Walmart stores are slowly decomposing in more and more American towns these days. More than 100 of them have been memorialized as part of the group Flickr pool known smugly as "They Sold for Less."

Two key Democratic senators today released state-by-state numbers showing how many jobs would be lost if the current surface transportation authorization bill is not extended by September 30. Sen. Barbara Boxer (D-CA), chair of the Environment and Public Works Committee, and Sen. Tim Johnson (D-SD), chair of the Banking, Housing, and Urban Affairs Committee, sent a letter to their Senate colleagues urging them to act and highlighting the job loss numbers for their state.

Maybe we can finally lay the whole “drive till you qualify” myth to rest now.

The House and Senate are getting close to voting on a deal, reached over the weekend, to raise the debt ceiling and cut spending.

We're pleased to welcome Stephen Smith as a new contributor to Streetsblog Capitol Hill. We'll be running Stephen's work on a regular basis, and you can catch more of his writing at his home blog, Market Urbanism.

You’d think the Obama campaign had confused Michigan and Ohio with Iowa and New Hampshire. As his 2012 Republican challengers flooded early primary states last month, the President instead headed to where he could stand beside beaming auto executives and watch proud workers toiling on once-idle assembly lines. The Obama administration and the industry have been making a hard media push this summer, celebrating the auto bailout as a big win — for the politicians who supported it, for the economy that they claim needed it, and for the taxpayer who still begrudges it.

Earlier this week, President Obama spoke to reporters at the White House. Fully aware of the growing concern in the country over the “jobless recovery,” Obama led off by talking about jobs – and pushing Congress to pass a transportation reauthorization. But was he using the wrong talking point?

According to an analysis by the Center for Neighborhood Technology of 2002 mortgage data, 250 people applied for mortgages every day in Chicago, and only 150 were approved. The top reason for rejecting the other 100? Applicants had too much credit tied up in car ownership.

In an op-ed in this morning’s New York Times, Laura D’Andrea Tyson argues for increased investment in infrastructure, pointing out that the nation’s infrastructure will deteriorate quickly if spending is not increased. Tyson chaired the Council of Economic Advisers under President Clinton and currently serves on President Obama’s Council on Jobs and Competitiveness.