For weeks, Sen. Max Baucus (D-MT) has opposed climate change legislation. In the Environment and Public Works (EPW) Committee, he openly voiced his doubts and was the only Democrat to refrain from voting for the bill’s passage. Now that the bill is in the Finance Committee, which Baucus chairs, many worry that the bill is doomed. However, it looks like Baucus might have outwitted us all.

Aaron Wiener of the Washington Independent reports that Baucus’s opening statement at the Finance Hearing on Tuesday was surprisingly favorable. Baucus pledged his commitment to “passing meaningful, balanced climate change legislation” and even preempted economic attacks on the bill.

This week the Senate Environment and Public Works Committee held three hearings on the Kerry-Boxer clean energy bill and, as David Roberts reports for Grist, Republican Senators had an “adolescent tantrum” about the cost of emission reductions. The Environmental Protection Agency (EPA), Congressional Budget Office, Energy Information Administration and other organizations have extensively debunked this line of debate.

Green jobs czar and racial justice advocate Van Jones resigned from his position as environmental adviser to the White House over Labor Day weekend. Many believe that Jones’ departure is a significant setback in environmental policy, racial equity, and another reminder that pundits can destroy credibility with very little ammunition in today’s political climate. Fox News host Glenn Beck and several Republican Congressmen criticized Jones for “controversial” past activism and called for him to step down. Jones was particularly smeared for signing a petition that requested more information on the 9/11 attacks and a derogatory comment toward Republicans, both of which he apologized for publicly.

Now that trillions of taxpayer dollars have been pumped through the financial system, Wall Street giants JPMorgan and Goldman Sachs are reporting record profits -- and giving out record bonuses. Goldman is planning to pay out $11.4 billion in compensation “earned” with our money. Even worse, attempts to regulate reckless financiers or empower ordinary workers are still being stymied by influential corporate lobbyists.

Another stunning reminder of the U.S. economy's dire condition arrived last Thursday.The nation shed a total of 467,000 jobs in June according to the Department of Labor. That's 35% more than it lost in May.

Despite talk about "green shoots" from Wall Street, a meaningful recovery with full employment and rising incomes is a very long way off. It's time to start pushing another round of economic stimulus to help those searching for jobs get back on their feet, according to several independent media outlets. The situation is grim, but not hopeless, as Ruth Coniff notes for The Progressive.