News
Washington Post | Federal, state and local debt hits post-WWII levels
The daunting tower of national, state and local debt in the United States will reach a level this year unmatched just after World War II and already exceeds the size of the entire economy, according to government estimates.
Washington Times | Budget deadlock points to government shutdown
Members of both parties in Congress said they want to avoid a government shutdown but remained at an impasse Sunday...
CNN Money | House budget would increase defense spending
While the House Republicans' 2011 budget calls for less in defense spending than originally proposed by President Obama, it would actually increase defense spending relative to last year.
Econ Comments
National Journal | What Would Happen if Obama's Growth Assumptions Prove Rosy?
Even slightly slower growth could add $2 trillion to debt by 2021.
Council on Foreign Relations | The U.S. Budget's Tightrope Act
Four CFR fellows evaluate how well the budget addresses its dual aims.
Washington Times | BLANKLEY: Debt doom refocuses politics
Crisis in Europe is driving demand for spending cuts here.
Cato Institute | Debt-Limit Remedy Gives Fiscal Hawks Leverage
...Democratic proponents of the status quo are in much stronger position to prevail because there are few ways for budget cutters to exert their will.
Bloomberg | Wisconsin's War With Union Represents Progress: Amity Shlaes
Teacher pensions do weigh down state budgets, both in Wisconsin and the other 49 states.
NRO | Reckless Spending
...without enough people packed into a given space, there will never be enough riders to repay the high cost of building and maintaining a high-speed rail system.
USA Today | Our view: Fix Social Security sooner, not later
[Americans have] repeatedly been told that while the program might have long-term problems, it's absolutely fine now and has nothing to do with the deficit.
Blogs
Cato @ Liberty | Spending Restraint Works: Examples from Around the World
Because of demographic changes and poorly designed entitlement programs, the federal budget is going to consume larger and larger shares of America's economic output in coming decades.
WSJ Real Time Economics | The Federal Fiscal Issue in One Chart
Instead of distinguishing between programs that are on auto-pilot like Medicare and programs that are subject to annual congressional spending bills, [Steuerle] put them on one chart.
Cato @ Liberty | Senator Toomey’s Legislation Would Protect Financial Markets During a Debt Limit Showdown
There will be several pivotal fiscal policy battles this year and the fight over the debt limit may be the most crucial.
Reason's Out of Control Policy Blog | Where Is the Money for Budget Reform Going to Come From?
Gleckman's question is a good one: where is the money for reform going to come from?
Heritage's The Foundry | State Spending Cuts Are Key Part of Brightening Our Fiscal Future
A recent study by The Heritage Foundation and The Wall Street Journal of economic recovery following the 2008 financial crisis has also found countries with bigger governments growing more slowly.
