News
Bloomberg | No Love Lost for U.S. Debt as Bond Dealers Share Fewer Treasuries With Fed
Demand for government debt is increasing even as the central bank prepares to conclude its purchases, the size of the market has doubled to $9.1 trillion and Republicans in Congress spar with President Barack Obama over the nation’s debt ceiling.
National Journal | Where Are We With Appropriations?
...as anyone who works in Washington knows, having access to at least the formal documents legislators use in making appropriations decisions can be invaluable.
WSJ | Danger of Greek Contagion Climbs
Investors have long expected Greece to default on its debts, but most were anticipating it would happen sometime next year. Now, skirmishes among European leaders last week have raised the prospect that a default could come as early as mid-July—not enough time for Europe's other debt-ridden economies to right themselves.
Econ Comments
Cato Institute | Debt Dilemma
By 2035, total federal spending could reach 34 percent of GDP, and climb to 42 percent by mid-century.
Washington Times | EDITORIAL: The Democrats' debt crisis
Despite debt limit, they have no plan for substantive reform.
Blogs
John Stossel's Take | What Caused The Debt?
The CBO predicted that the debt would be eliminated within a decade - as the green line shows in the chart below. That didn't happen, partly because economic growth was slower than expected (the yellow line in the chart below shows the impact of that) and partly because of tax cuts that the CBO says reduced government revenue (the blue line)...
Greg Mankiw's Blog | How to Fix the Long-Term Fiscal Problem
A menu of plans, courtesy of the Peterson Foundation.
Reports
Mercatus Center | The Debt Limit Debate
While the United States should not default on its debt, neither should Congress raise the debt ceiling without addressing the problem that created the debt: excessive spending.
