News
WSJ | Obama Joins Tense Debt Talks
Monday Meetings Aim to Break Logjam; Both Sides Remain Far Apart on Taxes as Deadline Looms.
Bloomberg | Pelosi Says U.S. Debt-Ceiling Deal Must Reduce Tax Subsidies for Companies
House Minority Leader Nancy Pelosi said reductions in “tax subsidies” for companies must be part of any deal to cut the U.S. budget deficit and increase the federal debt ceiling.
Econ Comments
WSJ | A Path to a Budget Pact
Treasury Secretary Timothy Geithner on the U.S. deficit, Europe's woes and overhauling the corporate tax system.
FT | A fiscal policy fit for the next crisis
The debt-ceiling talks in Washington have stumbled again. The sticking point, as before, is taxes.
WSJ | The Local Government Pension Squeeze
Annual retiree costs in Providence, R.I., now amount to an astounding 50% of city tax collections.
Blogs
Heritage Foundation | How Much Do We Owe? That’s the $62 Trillion Question
It turns out this number — a staggering debt of $534,000 per household — has caused quite the controversy.
WSJ: Real Time Economics | Guest Contribution: What Happens if U.S. Defaults?
As debt talks broke down today, concerns were raised about a U.S. default. Maury Harris, chief U.S. economist for UBS Investment Bank, and Drew T. Matus, senior U.S. economist, UBS Investment Bank, look at the potential effects.
Forbes: Back on the Margin | Seven Questions To Ask About Any Congressional Debt-Limit Deal
...negotiators already had tentatively identified more than $2 trillion in spending cuts during the next 10 years.
Heritage Foundation | The European Debt Crisis: A Preview of U.S. Woes?
Similar issues are confronting both the U.S. and Europe today. As the Grecian debt tragedy unfolds, the underlying fear is that it may be a prequel to what will happen here.
Cato@Liberty | $1 Trillion in Phony Spending Cuts?
In the Washington Post Friday, Ezra Klein partly confirmed what I fear the Republican strategy is for the debt-limit bill—get to the $2 trillion in cuts promised through accounting gimmicks.
