THE LATEST FROM PPI
NEW REPORT: "APP ECONOMY" CREATED HALF A MILLION AMERICAN JOBS. PPI Chief Economic Strategist Michael Mandel writes in a report released this week that apps--everything from Angry Birds to OpenTable--have generated as many as 466,000 U.S. jobs. This includes 311,000 jobs at companies making apps and 155,000 at merchants who have enjoyed more business from the ripple effect of these new jobs. The app economy did not exist until the introduction of the iPhone in 2007. Its astonishing growth is definitive proof: Innovation creates jobs. Read Michael's report HERE.
SMART, SIMPLE, DOABLE: SAVE FOR A HOME AND FOR RETIREMENT. Jason Gold and Anne Kim propose allowing young savers to set aside 50% of their 401(k) contributions toward a down payment. Their "HomeK" proposal would encourage more young workers to open a retirement account--something barely 1 in 5 young workers do--and save toward buying a first home. And because it uses the existing 401(k) structure, HomeK is cost-effective. Read HERE.
POLITICAL MEMO: As the chattering class fixates on the horse race for the Republican nomination, Will Marshall surveys the tricky political terrain President Obama must cross to win reelection, regardless of who his opponent is. Obama faces not only pervasive economic discontent, but also an electorate that's grown more conservative, and more independent since 2008. The memo also identifies three key strategic imperatives for progressives as they pick their way past these daunting but surmountable structural obstacles. Read HERE.
OTHER TOP PPI PICKS
- WIll Marshall on CNN.com on freeing the "Cairo 19" and in The New Yorker's News Desk on Obama's swing voters
- WaPo's Ezra Klein, Bloomberg and HousingWire on Jason Gold and Anne Kim's report on home values in battleground states
- Senior Fellow Roger Ballentine in The Hill on the politics of gas prices
- Michael Mandel in The Atlantic, Time, National Review Online on the app economy and in The Huffington Post on infrastructure.
- Diana G. Carew in Forbes on student debt.