News
NY Times | Deficit Committee Could Seek More Time, a Top Democrat Says
With no visible signs of progress, 6 of the 12 committee members have begun meeting privately in hopes of overcoming what appears to be the biggest obstacle to agreement: a deadlock over whether tax increases should be part of a deficit-reduction deal.
WSJ | Lawmakers Prod Panel on Deficit Agreement
One hundred House members from both parties Wednesday urged Congress's deficit-cutting supercommittee to trim the budget gap by $4 trillion over 10 years, with Republicans signaling that would require tax increases and Democrats acknowledging it would require cuts in the social safety net.
NY Times | College Graduates’ Debt Burden Grew, Yet Again, in 2010
Students who graduated from college in 2010 with student loans owed an average of $25,250, up 5 percent from the previous year, according to a report scheduled for release Thursday.
Econ Comments
Forbes | How To Gain Economic Stimulus Without Government Spending
The problem is that, before additional money can be spent, it must be borrowed. First, bonds are sold. Then, checks are sent out. The incremental bond sales negate the impact of the incremental spending before it even occurs.
Washington Times | GHEI: A better European bailout
Solution to G-20 economic problems is less government, not more.
Blogs
EconLog | The Balanced-Budget Multiplier
So my question for Keynesians and non-Keynesians alike. Is Professor Van Cott's criticism correct?
NRO: The Corner | Mini-bus Deception
I was sorry to read in Congressional Quarterly this morning that the so-called “mini-bus” spending bill that went through the Senate yesterday was “largely non-controversial.”
WSJ: Real Time Economics | Consumer Bankruptcies Decline
The 106,255 personal filings last month were 19.6% below year-ago levels, the American Bankruptcy Institute and the National Bankruptcy Research Center said Wednesday. Compared to September, filings were down 2.1%.
Mercatus Center: Neighborhood Effects | Harrisburg, PA Bankruptcy Proceedings Continue
On October 11, Harrisburg, PA filed for Chapter 9 bankruptcy, the first state capital to do so in several decades. Now, the city council must develop a plan for the city’s finances going forward.
