News
Market Watch | Economic growth in government crosshairs
As Congress wields its budget ax, some investors are worried that deep federal spending cuts could hurt job growth in the short term and further damage a U.S. economy already in fragile shape.
CNN Money | How debt committee could fake its way to $1.2 trillion
With next month's deadline looming, the panel may be tempted to go the easy route by offering up what are in essence fake savings.
Bloomberg | Supercommittee May Seek Commission on Federal Pay and Benefits
The panel might operate similarly to the 2005 Defense Base Closure and Realignment Commission, which presented Congress with a plan it had to either accept or reject without changes, according to two congressional staff members who weren’t authorized to speak on the record.
NY Times | Freddie and Fannie Reject Debt Relief
If banks would forgive some of a homeowners’ mortgage debt, the state said it would pay half, up to $50,000 of a $100,000 loan reduction. Despite the generous terms, most banks balked.
Market Watch | China lending not like U.S. subprime debt: analyst
China’s 4-trillion-yuan ($627 billion) unofficial lending market doesn’t pose a threat equal to that of pre-crisis subprime lending in the U.S., according to Bank of America-Merrill Lynch.
Blogs
Mercatus Center: Neighborhood Effects | An Unbalanced Budget: Fiscal Pollution
A balanced budget amendment, by internalizing this externality, would correct these misaligned incentives.
Reports
Mercatus Center | Administration Efforts on Line-by-Line Budget Review
Veronique de Rugy testified before the House Committee on Energy and Commerce, Subcommittee on Oversight and Investigations about a line-by-line budget review process.
