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Chicago’s infrastructure trust gets off to a quiet start, while New York City launches an experiment with social-impact bonds, a similar concept recently imported from England.

During the recession, perhaps the most crucial question is: where’d the money go? A lot of it is sitting in corporate accounts, due to major changes in tax and regulatory systems, and a big demographic wave of boomers putting away money for their own futures.

A comparison of Chicago’s unemployment rate and percent of employed to unemployed since last year… is actually not unhopeful. And it’s not just a matter of unemployment falling generally; Chicago’s numbers compare favorably to growth spots like San Jose and Houston.

The jobless recovery the country is going through is tightly coupled with the decline of the middle class and the polarization of American incomes. But a Chicago Fed paper suggests that there’s demand for middle class workers, and a gap not well explained by a “skills mismatch.”

After two fundraisers in Austin today and two more next week in the Bay Area, Obama will come home for his birthday—to host another fundraiser. He’s doubled George W. Bush’s total in a similar period, but Mitt Romney is creeping up on his heels.

Is the president planning on cutting taxes “for middle class families”? Yes, in the way that you get the biggest piece of cake on your birthday, but don’t get to eat the whole thing.

The London Interbank Offer Rate scandal hasn’t gotten much attention in these parts, even though it effects everything from student loans to the trillions in futures whizzing through Chicago every day. It’s worth getting into—it’s not going away for a long time.