News
MarketWatch | Debt limit debate turns to size of increase
Both the Obama administration and House Republicans say they support an increase in the nation’s borrowing limit, but so far neither are saying how much of a hike they’ll support as the government creeps closer to hitting its debt ceiling.
National Journal | Senate Finance Committee Talks Budget Enforcement
Tax triggers and emergency spending consume discussion.
Politico | Old problems dog new debt debate
Gramm’s testimony came on the eve of Blair House talks beginning Thursday in which Vice President Joe Biden will host a six-member House-Senate panel on how to approach the coming debt vote.
National Journal | White House Gets Down to Cases on Selling Excess Properties
...many of the properties -- which range from warehouses to office complexes -- have little commercial value.
Fox Business | CFOs Say Cut Spending, Don't Raise Taxes to Reduce Deficit
...even the smartest calculators in the room say cutting spending, and not raising taxes to, is the way to go to pare back the U.S. federal deficit.
Econ Comments
Cato Institute | GOP Shouldn't Be Afraid to Challenge Reckless Spending
Ultimately, the last-second agreement that averted a government shutdown was probably a draw.
Blogs
Calculated Risk | Update on Debt Ceiling Charade
...the current CBO projection shows the deficit at 3% of GDP in 2015 - so this is a big yawn, plus a future congress can change the rules.
Reports
CBO | The Underfunding of State & Local Pension Plans
...assets covered less than 80 percent of liabilities, and unfunded liabilities (the amount by which liabilities exceed assets) amounted to roughly $0.7 trillion.
Mercatus Center | Performance Based Budgeting
The good news is that transparent government spending is an achievable reality. In fact, some state and national governments are taking the lead.
