News
WSJ | Student-Loan Defaults on the Rise
By Sept. 30, 2010, 8.8% of federal student loans whose payments started coming due in the previous fiscal year had fallen into default, up from 7% in fiscal 2008.
NY Times | Government Pays More in Contracts, Study Finds
The study found that in 33 of 35 occupations, the government actually paid billions of dollars more to hire contractors than it would have cost government employees to perform comparable services.
Politico | John Boehner tries to cut deeper on 2012 funds
Instead of the agreed-upon appropriations target of $1.043 trillion, a stopgap continuing resolution or CR this week would be calibrated at a lower $1.035 trillion level.
Roll Call | Some Groups Safe From Automatic Cuts
List May Give Advocates Leverage With Deficit Panel.
Blogs
WSJ: Real Time Economics | IMF Says It Needs to Improve Debt Analysis
The International Monetary Fund needs much more realistic analyses of the abilities of countries to pay their debts, IMF staff warned in a new report published Monday.
WSJ: Real Time Economics | Vital Signs: Student Loans Lead Borrowing
Americans are borrowing more — for student loans. In July, consumers owed the government about $386 billion, largely for student loans, up from $139 billion two years earlier.
Reports
CBO | Estimated Impact of Automatic Budget Enforcement Procedures Specified in the Budget Control Act
In all, those automatic cuts would produce net budgetary savings of about $1.1 trillion over the 2013–2021 period, CBO estimates. That amount is lower than the $1.2 trillion figure for deficit reduction in the Budget Control Act for three reasons.
Mercatus Center | Would More Infrastructure Spending Stimulate the Economy?
...while no one disputes the value of good infrastructure, this type of spending typically suffers from massive cost overruns, waste, fraud, and abuse. This makes it a particularly bad vehicle for stimulus. In sum, further stimulus would be a risky short-term gamble with near-certain negative consequences in the long term.
