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Thursday, March 24, 2011

Budget

News                                                                                                                             
The Telegraph | Budget 2011: George Osborne fuels economy with surprise cut in petrol duty
George Osborne has announced a surprise cut in fuel duty in a Budget statement designed to help families and deliver growth and jobs.
CNN Money | Budget pain taking a toll
After six months of coping with stop-gap funding measures, federal agencies have quietly started instituting hiring freezes, withholding grants and curtailing work on critical projects.
WSJ | Former White House Economists Say Deficit Is 'Severe Threat'
Ten former chairmen of the White House Council of Economic Advisers called on politicians to get to work soon on reducing the federal budget deficit...
NY Times | States Pass Budget Pain to Cities
The state budget squeeze is fast becoming a city budget squeeze, as struggling states around the nation plan deep cuts in aid to cities and local governments that will almost certainly result in more service cuts, layoffs and local tax increases.
WSJ | Moody's Welcomes U.K. Budget
Moody's Investors Service Inc. on Thursday said the U.K. budget indicates the government is tackling the current economic and fiscal challenges with plans to significantly reduce its budget deficit and levels of debt.

Econ Comments                                                                                                            
Cato Institute | Are We Broke?
With the United States running a $1.65 trillion budget deficit and getting ready to hit the $14.3 trillion national-debt limit, a strange new mantra has surfaced among advocates of big government: We're not really facing a budget crisis.
NRO | Revenge of the Deficit Commission?
The looming entitlement crisis is making some strange bedfellows.
NRO | Ohio’s Jobs Budget
Buckeye State governor John Kasich is slashing spending to encourage economic growth.
WSJ | Social Security's Glimpse Into the Left's Priority
A recent episode involving Social Security shows how difficult real deficit reduction really is. The day before the State of the Union address, liberal activists held a conference call to inoculate America's largest single program from inclusion in any deficit reduction discussion. The left's unilateral attempt to remove the nation's largest spending program from even a discussion begs the question: What is there to discuss?
Politico | Unsustainable budget threatens nation
Repeated battles over the 2011 budget are taking attention from a more dire problem—the long-run budget deficit.

Blogs                                                                                                                          ;
Heritage: The Foundry | Obama Budget Adds $80,000 per Household to National Debt
The Congressional Budget Office (CBO) has completed its initial review of President Barack Obama’s budget request and found that the White House significantly understated the cost of and red ink in its budget.