News
WSJ | Gridlock for Debt Talks
Parties Remain Split as Deadline Looms, Adding Jitters to Global Markets.
NY Times | Europe’s Troubled Economies Join the Rescue Team
Can a bailout fund whose backers include some of the countries it may be called upon to bail out really succeed?
WSJ | Moody's Cuts Greek Debt Rating Further
Moody's Investors Service Monday slashed the Greek government's debt ratings three notches deeper into junk territory, warning that the nation's newest bailout deal implies a temporary sovereign default and sets a bad precedent in the 17-country euro zone.
Econ Comments
WSJ | The Debt Ceiling and the Pursuit of Happiness
A welfare state that led to permanent austerity would betray the principles that have made American culture exceptional.
Washington Times | SAUERBREY: Forcing the irresponsible to act responsibly
A balanced budget amendment is the only way to hold legislators in check.
WSJ | Toying With Default
The President isn't serious about real spending cuts.
Washington Times | DE RUGY: Last chance to save Uncle Sam’s credit score
Only serious spending reform can avoid a painful downgrade.
Blogs
American: Enterprise Blog | Are States’ Budget Surpluses Sustainable?
...through a combination of spending cuts and revenue increases, many states have gone a step further and actually have some funds left over. The key question is whether or not these surpluses are sustainable.
Atlantic: McArdle | Douglas Holtz-Eakin Explains It All to You
In one minute, the former CBO director explains why we need to raise the debt ceiling...
Marginal Revolution | An Unbalanced Budget Amendment
The unbalanced budget amendment is a requirement that in good times the government must run a budget surplus. The virtues of such a rule are that it allows for counter-cylical fiscal policy during a recession. Indeed, it reduces the cost of counter-cyclical fiscal policy because it guarantees a reserve fund for just such emergencies.
Heritage Foundation | White House Confirms It Will Likely Sign Any Debt Deal Congress Sends
In an accidental moment of honesty, White House Deputy Press Secretary Dan Pfeiffer today admitted on Twitter that President Obama will likely sign any debt deal Congress sends his way.
