News
WSJ | Democrats Unhurried in Work on Budget
Senate Democratic leaders said Thursday they weren't yet ready to move ahead with a 2012 budget proposal, amid continuing differences within the party over the right balance between spending cuts and tax increases.
WSJ | Debt Calculations Weigh on Restructuring Decisions
For the first time this week, a taboo was lifted. European officials can now use the "R" word— restructuring—in sentences that don't also have "not" in them.
Econ Comments
Washington Times | VERSACE: Recognizing Debt Ceiling Day
Yep, as most if not all of us have heard by now, the authority Congress had given the Treasury to borrow money ended Monday.
Politico | Budget surplus to deficit: How we got here
It's crude but fair summary of the two presidents based on new data mapping how the nation moved from surpluses in 2001 to record deficits over the past decade. And it takes on special meaning given the turmoil these days in the Senate, whether in producing a budget, salvaging months of work by the bipartisan Gang of Six or expanding the Treasury's borrowing authority to aver default.
Blogs
Heritage Foundation | U.S. Hits Debt Ceiling, but Default Is Completely Avoidable
Now that the U.S. hit its $14.3 trillion debt ceiling on May 16 and the doomsday predictions of the financial apocalypse that was going to tank the economy failed to materialize, the question remains: How should Congress respond?
