News
WSJ | Worry Builds for Deficit-Panel Deal
Time Crunch, Gulf Over Taxes Has Lawmakers Concerned the Supercommittee Won't Strike Pact on $1.2 Trillion in Cuts.
National Journal | Senate Approves First of Several 'Minibus' Approps
The approximately $182 billion package combines three of the 12 annual appropriations bills: Agriculture; Transportation and Housing; and Commerce, Justice, and Science.
WSJ | Banks Spell Out Deep Cost Cuts
After growing to unprecedented size before the financial crisis and shrinking only slightly during a deep downturn, the global finance industry is undertaking a massive retrenchment.
Politico | Supercommittee compromise offered by Erskine Bowles
Erskine Bowles floated a new $2.6 trillion deficit-reduction outline Tuesday that is designed to split the differences between Democrats and Republicans on the supercommittee.
Market Watch | Fiscal experts sternly warn supercommittee
The heads of high-profile deficit-cutting commissions on Tuesday urged the congressional supercommittee to aim high just weeks ahead of its deadline, saying failure to reach an agreement about shrinking the U.S. debt could result in another downgrade.
Econ Comments
WSJ | Why We Can't Escape the Eurocrisis
EU and U.S. debt are interlinked through the banking system.
Daily Caller | Medicare: a super-sized issue for the supercommittee
According to the Congressional Budget Office’s (CBO) most recent long-term budget outlook, health care spending has grown by about 66% over the past 25 years and will grow nearly as quickly over the next 25.
Atlantic: McArdle | Will the Greece Referendum Send the Eurozone Spiralling?
Over there, the prime minister of Greece announced last night that the new bailout deal I was so cynical about last week would have to be subject to a referendum.
Blogs
American: Enterprise Blog | Infrastructure spending: An idea for when you’ve run out of ideas
Does the United States need an infrastructure upgrade? Almost certainly. But we shouldn’t just shovel trillions at the problem based on overly gloomy analysis or a misguided effort to create jobs.
Reports
CBO | The Rebuild America Jobs Act
Budgetary Effects of S. 1769 the Rebuild America Jobs Act.
