News
Washington Times | Fed sees mounting debt as biggest challenge
Federal Reserve chairman Ben S. Bernanke on Wednesday called the mounting federal debt the biggest economic challenge facing the country and said the threat that it will tarnish the nation’s top credit rating should prompt Congress to address it.
Fox News | Reid: Add deficit 'cap' to debt legislation
The leader of the Democratic-controlled Senate said Wednesday that any legislation increasing the government's ability to borrow more money to meet its obligations should contain a cap on how big the deficit can be in any given year.
Source | Harry Reid to force Senate vote on Paul Ryan's Budget
As Congress hurtles toward its late spring deadline to raise the nation's debt limit, Reid says he wants to force GOP senators to take a stand on the Ryan plan, which would overhaul Medicare and Medicaid, and cut trillions over the next decade.
Econ Comments
WSJ | The Debt Ceiling: Myths and Facts
Default won't happen, since we're collecting plenty in taxes to pay our interest obligations.
WSJ | Why the 2025 Budget Matters Today
Governments with no plausible plan to meet their obligations risk a run by investors. It's happened abroad, and it can happen here.
Washington Post | How serious are we really about the deficit?
House Republican leaders have passed the test, supporting a politically risky budget that changes Medicare into a premium-support program and eventually returns federal spending to sustainable levels.
Blogs
Econlog | 10-year Budget Projections
Tell me what you think about the usefulness/uselessness of 10 year budget/ deficit projections.
Heritage Foundation | Gen Xers, Baby Boomers and Seniors Prefer Ryan’s Budget Over Obama’s Plan
A surprising USA Today/Gallup poll today revealed that a plurality of Americans over the age of 30 — including Gen Xers, Baby Boomers and seniors — support Ryan’s proposal to reduce the deficit over President Obama’s plan.
