News
WSJ | Moody's: Local Governments Are Likeliest Muni Defaulters
Municipal-bond defaults should remain rare, Moody's Investors Service said in a report, with the biggest risk a shift from defaults by health-care and housing issuers to those by local governments.
CNN Money | Energy subsidies total $24 billion, most to renewables
The federal government spent $24 billion on energy subsidies in 2011, with the vast majority going to renewable energy sources, according to a government report.
Bloomberg | Greece Closes In on Swap as Investors Agree
Greece moved closer to sealing the biggest sovereign restructuring in history as investors indicated they’ll participate in the nation’s debt swap.
WSJ | Greek Debt Swap Gets More Support
Holders of more than half of Greek bonds have so far pledged to participate in the government's debt-exchange offer as part of a restructuring that will see the value of their holdings more than halved.
Econ Comments & Analysis
Politico | GOP budget target could provoke fight
Anxious to change the subject, House Republicans moved toward picking a new fight with the White House over spending Wednesday even as the leadership confirmed it will go slower on legislation challenging President Barack Obama’s policy of requiring contraception coverage by health insurance companies.
CBO | Monthly Budget Review
The federal government incurred a budget deficit of $578 billion in the first five months of fiscal year 2012, CBO estimates—$63 billion less than the shortfall recorded for the same period last year.
