News
Washington Times | EU nations offer Greece big bailout in currency crisis
Eurozone ministers offered Greece a $10.7 billion Christmas rescue package Tuesday to stem an immediate cash crisis, yet failed to resolve fears that the common euro currency might be doomed.
Econ Comments
Reuters | Japan and the debt faith crisis: James Saft
Could Japan be the next victim of the crisis of faith in government bonds?
Cato Institute | After the Supercommittee?
Taxpayers just dodged a bullet. Even though Republicans on the so-called supercommittee were willing to break their promises and support a tax hike, a 1990-style budget deal was not possible because Democrats demanded too much and offered too little in exchange.
Roll Call | Deficit Hawks See Opening
With the super committee's failure last week, industrious lawmakers are grasping yet again at the opportunity to reach a sweeping deficit reduction deal — but they face the same obstacles that have crushed every group that's tried.
Forbes | Rich Nations That Went Broke By Spending Too Much
Government spending drives taxes, deficits, debt and inflation, so it’s at the core of our economic problems. What to do about runaway spending?
Daily Caller | America’s ‘shadow deficit’ looms larger than $15 trillion
Yet as the federal government continues blowing your money at an unprecedented, unsustainable rate, politicians from both parties continue refusing to make long-overdue cuts.
WSJ | Blame It on Berlin
The euro bailout caucus wants the Germans to write a blank check.
RCM | Bankruptcy Is An Ugly Option for Cities
Earlier this month the Harrisburg, Pa., city council threw itself on the mercy of federal bankruptcy court, hoping to find a less onerous solution to its debt woes than the workout plans proposed by the state of Pennsylvania and by the city's own mayor.
Blogs
NRO: The Corner | Cutting Spending Is Good Politics
Over at U.S. World and News Report, Nancy Pfotenhauer has a good piece showing that cutting spending is not only good economics, it’s also good politics.
Atlantic: McArdle | How Can Europe Possibly Save Itself?
Well, things are getting a little gnarly in Europe. When you're down to the point of celebrating that Italy managed to place some debt at the low, low price of 7.6% . . . well, it's two for one drinks specials at the first class bar on the Titanic!
