News
Fox News | States have closed $527B budget gap since 2007
When drafting budgets for the upcoming year — and in some states the next two years — lawmakers forecast slow to moderate economic growth and expect to make fewer cuts. But that was before the recent political turmoil over the debt ceiling, a precipitous drop in the stock market and the downgrading of government bonds.
Roll Call | Reid Taps Murray, Baucus, Kerry for Deficit Panel
The Joint Select Committee has been charged with forging the balanced, bipartisan approach to deficit reduction that the American people, the markets and rating agencies like Standard and Poor’s are demanding.
Econ Comments
Washington Post | A debt call we should have seen coming
I kept waiting throughout the debt-ceiling debate for Wall Street to wake up to the fact that Washington is not nearly as functional as the market calculated. Instead, Wall Street assumed that because default was unthinkable, it did not have to price that possibility into its risk assessment.
