News
CNBC | Spending Cuts, Not Tax Hikes, Best for Deficit: NABE
The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.
WSJ | As Investors Get Bit, States Feel Pain
State-budget officials from around the U.S. were huddled in Utah earlier this month for an annual meeting when someone glanced at a BlackBerry and announced that the Dow Jones Industrial Average had fallen 500 points.
MarketWatch | Republicans ramp up balanced-budget push
Republicans ramped up their push for a balanced-budget amendment to the U.S. Constitution on Saturday, enlisting Ohio Gov. John Kasich to make their case in a weekly address.
Econ Comments
Washington Times | EDITORIAL: The California cut
Even a ‘70s-era liberal realizes the need to cut spending.
Blogs
EconLog | The Fiscal Outlook for U.S. States
The way I read the projections, if overall public spending on the NCH continues to rise relative to GDP while the federal government share shrinks, then state governments will have to raise taxes significantly relative to GDP in order to maintain budget balance.
Heritage Foundation | Chart of the Week: Federal Spending on Defense vs. Entitlements
In recent years, however, defense spending has continued to decline as entitlement spending increased. Priorities are being misplaced as the gap between entitlement spending and defense spending continues to widen.
