News
National Journal | GOP Wants More Spending Cuts For Payroll Tax Extension
House Republicans on Wednesday were seeking to flip any perception that their party, because of internal discord, is dependent on votes from across the aisle to get an extension passed on the payroll tax holiday.
Politico | Congress close on final spending deal
The giant bill, which would exceed $1 trillion when war funding is counted, must be filed in the House by Monday night to ensure floor action before Dec. 16, when the latest stopgap continuing resolution is due to expire.
Econ Comments
Washington Times | MILLER: Breaking the spending cycle
Paul Ryan’s plan to fix the dysfunctional budget process in Washington.
Blogs
WSJ: Real Time Economics | U.S. Consumers Take on More Debt
Consumer credit increased by $7.65 billion to $2.457 trillion, the Federal Reserve said Wednesday. Economists surveyed by Dow Jones Newswires had forecast a $6.5 billion expansion in consumer credit. September’s figure was revised down to a $6.88 billion increase from the originally reported $7.39 billion.
Reports
CBO | Monthly Budget Review
The federal budget deficit was close to $240 billion for the first two months of fiscal year 2012, more than $50 billion below the deficit recorded through November of last year, CBO estimates.
