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Thursday, December 22, 2011

Budget

News                                                                                                                             
Bloomberg | Payroll Tax Tiff Times 25 Awaits Congress
The brinksmanship in Congress over a payroll tax-cut extension may end up looking like a quaint disagreement by next December, when lawmakers must grapple with a fiscal policy debate at least 25 times more costly.

Econ Comments                                                                                                             
Politico | Fitch issues warning about U.S. debt
Fitch warned Wednesday that the United States’ rising debt was not “consistent” with the country’s AAA credit, but the ratings agency said it wouldn’t act until at least 2013.

Blogs                                                                                                                             
Cato @Liberty | Truth in Budget Reporting
Newspaper articles on government budgets virtually never tell the reader the two most important facts: What was the budget last year, and what is it this year?