News
National Journal | Hoyer Calls for 'Bold' Action on Deficit but Offers No Details
House Democratic Whip Steny Hoyer, D-Md., on Monday called for lawmakers to come together behind a “big, bold, balanced solution” to the country’s fiscal problems but failed to offer any specific ideas on how to get there.
Econ Comments & Analysis
Bloomberg | Krugman Says Greece Running Out of Alternatives to Quitting Euro Currrency
Nobel-prize winning economist Paul Krugman said Greece is “close” to having to leave the 17- member currency region as austerity measures imposed on the nation hamper its economic recovery.
Blogs
The American | Larry Summers spills the beans on the real reason why Obama rejected Bowles-Simpson
President Obama created a debt commission—and then rejected its recommendations. As I just wrote in a previous post, the rejection was complete and overwhelming.
Daily Capitalist | S&P: Greece Now Rated “SD” Selective Default
Standard & Poor’s Ratings Services said today that it has lowered its ‘CC’ long-term and ‘C’ short-term sovereign credit ratings on the Hellenic Republic (Greece) to ‘SD’ (selective default).
WSJ | Consumer Debt Falls on Less Mortgage Borrowing
Total consumer debt levels fell 1.1% to $11.53 trillion in the fourth quarter of 2011 compared to the prior quarter, largely due to developments in the housing market, a report from the Federal Reserve Bank of New York said Monday.
