News
CNN Money | Balanced budget amendment: 'Irresponsible'
More than a dozen leading Republican senators are co-sponsoring a bill that would require a balanced budget; cap spending below the historical average; and require a supermajority of lawmakers to approve tax hikes or most increases to the debt ceiling.
WSJ | Portugal Hints at Deficit Revision
Portugal's statistics agency said it plans to make "accounting changes" in a report to be submitted to the European Union's statistics agency by week's end, a revision that could indicate a wider 2010 budget deficit and which would further undermine the credibility of the country's embattled government.
Politico | Eric Cantor and John Boehner diverge on budget
...Cantor distanced himself Tuesday from spending compromises discussed with the White House and took a harder line on whether Republicans should keep the government open absent a budget deal next week.
Econ Comments
Washington Times | RIEDL: Farm subsidies ripe for reform
Defenders assert that the $25 billion annual cost of farm subsidies (a bit less than 1 percent of federal spending) is too small to bother reforming. Yet one-third of the federal budget — $1 trillion total — consists of programs that each cost $25 billion or less.
WSJ | Why I Won't Vote to Raise the Debt Limit
Everyone in Washington knows how to cut spending. The time to start is now.
Washington Times | KUHNER: Shut the government down
GOP’s timid strategy of incremental cuts betrays conservative values.
Blogs
Cato@Liberty | A New Low for GOP’s ‘YouCut’
This week the House Republican leadership finally put the Pentagon on the YouCut chopping block. However, the possible cuts suggested by the GOP are pathetic
Bankrupting America | NEW VIDEO: Who’s more responsible: Charlie Sheen or Washington?
At first thought, Charlie Sheen hardly seems like a model for fiscal responsibility. But, somehow, Washington has managed to be far worse.
Cato@Liberty | Budget Battle Update: It’s About Preparing for the Inevitable Fight, not Forcing a Shutdown
...if a shutdown battle is inevitable, advocates of smaller government should decide whether it's better to have that fight sooner rather than later.
NRO: The Corner | What $20 Billion Offer?
...senior Republican aides tell NRO that they still haven’t seen this alleged offer from the White House. Even assuming the offer is legitimate, some are skeptical of what it might contain in terms of cuts.
