News
CNN: Money | Lobbyists stir about debt ceiling
The Treasury estimates U.S. borrowing will hit the debt ceiling by May 16. The amount of debt subject to the limit can fluctuate on a daily basis, and there are steps the department can take to stave off the day of reckoning.
Econ Comments
CNN: Money | American standard: Wall Street piles on the debt
The U.S. economy won't be hitting junk status anytime soon. Well, unless it is what it eats.
Cato Institute | Cutting Expenditure Is A Good Thing
The U.S. faces a fiscal meltdown because government undertakes activities that are not necessary or useful functions of government.
Blogs
Political Calculations | Writing a Better Balanced Budget Amendment
Back on 3 February 2011, a number of Republican party members in the U.S. Senate introduced Senate Joint Resolution 5, which proposes to amend the U.S. Constitution to require the U.S. Congress to balance the annual budget of the U.S. federal government. The resolution has since been signed on by all the Republican members of the U.S. Senate.
NRO: The Corner | Changes on the State and Municipal Pension Front
State and local pensions always seemed to be a sacred cow, but in recent days I have been reading more and more stories about how states and local governments are slowly but surely making changes to their pension plans.
Heritage Foundation | States Take Action to Combat $1.26 Trillion Shortfall
Wisconsin and Ohio, both of which made headlines for working to get pension costs under control, aren’t the only ones taking action.
WSJ: Real Time Economics | Why Do We Have a Debt Ceiling Anyhow?
On the face of it, a federal debt ceiling seems strange. Congress passes spending bills and tax bills, and those decisions lead to bigger or smaller deficits — or once upon a time surpluses — depending on what happens with the economy.
