News
WSJ | Treasury Faces Pressure to Detail Backup Plan
The Treasury Department will face growing pressure Friday to detail its emergency plans to operate the government next week after a House Republican revolt Thursday night complicated efforts for Congress to raise the debt ceiling by Aug. 2.
Econ Comments
Washington Times | MILLER: Economy in the balance
Bipartisan constitutional amendment needed to restore fiscal sanity.
Daily Caller | Ignore the fire alarms
Rather than a danger to the economy or to investors, the debt ceiling is the one thing that is forcing a debate on the size and scope of government.
Washington Times | EDITORIAL: Economics on the brink
Debt-limit debate is about preserving Big Government, not preventing default.
Blogs
Fox Business: Stossel's Take | Take A Chainsaw To The Budget
I don't claim to be a budget expert. But others, such as Chris Edwards at Cato and Stuart Butler at Heritage, are. They found lots of serious cuts.
Atlantic: McArdle | What Happens if We Don't Raise the Debt Ceiling?
I'll start by saying, however, that I have no idea whether we'll get a deal or not. There is one thing I'm sure of: Obama is indeed bluffing with the veto threat, and badly. They could send him a repeal of Obamacare attached to a debt ceiling increase, and he'd sign it. He is not going to endanger our credit rating, or social security checks, in order to prove a point.
Reports
RCM: Wells Fargo Economics Group | With Greece “Stabilized,” Will the Fire Spread?
Under four separate nominal GDP growth assumptions and four interest rate assumptions, we calculate the primary budget surpluses (in some cases, deficits) that would be required to stabilize government debt-to-GDP ratios in each country.
