News
Fiscal Times | House Passes Ryan's Controversial Budget Plan
...the Republican-controlled House passed a budget plan for the next decade that would dramatically shrink the role of the federal government.
WSJ | IMF Believes Greece Should Consider Debt Restructuring By 2012
The International Monetary Fund believes Greece's debt is unsustainable and has told European government and central bank officials that Athens should consider restructuring by next year…
Fox News | Geithner confident Congress will raise debt limit
"I want to make it perfectly clear that Congress will raise the debt ceiling," Geithner said in the interviews taped Saturday and aired Sunday.
WSJ | Moody's: Budget Debate "A Turning Point" For US Fiscal Position
Although getting political agreement on a final budget will be "extremely difficult" due to differences on taxes and healthcare, the "changed parameters" of the debate are positive for the U.S.'s Aaa rating.
Econ Comments
NRO | Losing the Future
How do you “invest in the future”? By borrowing $188 million every hour. That’s what the government of the United States is doing.
Washington Times | WOLF: Obama’s spray-on hair of fiscal policy
A tax rate of zero percent would yield zero in revenues, while a tax rate of 100 percent would also yield zero in revenues because no one would work for nothing. Americans aren’t stupid. Clearly, then, simply increasing tax rates will not always increase revenues.
NRO | Not Tax Cuts, Not Wars, and Not Bailouts
The spending on the wars and the forgone revenue from the Bush tax cuts do not add up to much of that $1.6 trillion deficit: a little less than 16 percent.
Blogs
Forbes: The Capitalist | Phantom Federal Budget ‘Cuts’
Obama effectively endorses a perpetual rise in the state’s parasitical share of the economy: not since the 1960s has U.S. real GDP come even close to growing 66% in a single decade.
Bankrupting America | President Obama’s Fiscal Policy Examined
Seeking to protect education and infrastructure spending and spur the economy, the President calls for a raise in taxes, which could have a negative effect on job creation.
