AP reports Fed Chairman Bernanke suggesting the economy is close to faltering.

The WSJ blasts the President and Mitt Romney for supporting the China tariff.

The NY Sun notes it is the US that has been manipulating its currency down, far more than China.

On The Kudlow Report, David Goldman discusses Italy’s debt downgrade:

From Forbes, Brian Domitrovic notes there’s plenty of room for bipartisan spending cuts, but the President goes for tax increases instead.

In The WSJ, John Taylor and John Cogan argue stimulus spending damages the economy and politicians’ re-election chances.

At IBD, US Rep. Peter Roskam (IL) advocates that capital gains and dividends tax rates remain at 15%.

Think Progress features a video linking President Obama’s call to close tax loopholes to President Reagan’s. Omitted is that Reagan’s loophole elimination plan included deep rate cuts, unlike Obama’s:

On Forbes, Ralph Benko reports on a recent Harvard Law School/Tea Party conference.

From Asia Times, David Goldman suggests the European debt mess will work itself out.