Econ Comments
WSJ | Upgrading the States
Florida and Ohio get rewarded for their fiscal reforms.
Washington Post | RAHN: Time for a constitutional fix
Without a clear amendment, overspending will continue.
Blogs
NRO | The Debt-Ceiling Fight Was Necessary
Refusing once again to take any responsibility for the recent downgrade or any negative events (or lack of positive ones) during the last two years, the president gave a speech last night explaining how the debt-ceiling fight — i.e. those stubborn republicans — was to blame for S&P’s decision.
American: Enterprise Blog | Entitlement Spending Can be Constrained
Fortunately, agreements to cut entitlement benefits are more durable than agreements to cut discretionary spending. Because entitlement spending is not voted on each year, spending reductions remain in effect unless and until the president and Congress affirmatively pass legislation to overturn them.
NRO | The S&P Downgrade
Anyone who has looked at the Congressional Budget Office baseline knows that even if lawmakers allow the Bush tax rates to expire at the end of 2012, the debt-to-GDP ratio is still projected to go up quite dramatically over the next decade.
Reports
Mercatus Center | The Fiscal Health of U.S. States
This paper examines the fiscal health of the 50 U.S. states. Existing work considers important aspects of this issue, but it does not provide a complete picture of current and future state fiscal outlooks.
