News
CNN Money | Fights brewing over House Republicans' budget
Lawmakers won't be finalizing too many financial decisions before the November elections. But they're about to engage in yet another fight that could risk a government shutdown in the fall.
CNN Money | Obama's budget would add $6.4 trillion to debt - CBO
The Congressional Budget Office concluded that the president's budget would add less to the country's debt than if lawmakers simply extend a number of favored policies, such as the Bush-era tax cuts. It would also shrink annual deficits to the point where they no longer are growing faster than the economy.
Econ Comments & Analysis
Washington Times | A common-sense deficit in the face of global problems
Technology insures in the near term an increasing superiority of America’s weapons. But the U.S. Navy is heading toward a reduction in the number of ships not seen since before World War II. American strategy might well run into tactical difficulties maintaining freedom of the seas around the world, a primary U.S. concern since the founding of the republic, including waters off the East Asian mainland.
WSJ | The U.S. Cruises Toward a 2013 Fiscal Cliff
At some point, the spectacle America is now calling a presidential campaign will turn away from comedy and start focusing on things that really matter—such as the "fiscal cliff" our federal government is rapidly approaching.
Politico | GOP on budget: Bitten, but not shy
Despite getting hammered by Democrats last year, the GOP is gambling that going big and bold on their fiscal blueprint — think major changes to Medicare and Medicaid — will convince voters the GOP is the nation’s responsible party, comprised of lawmakers attuned to the nation’s fiscal woes.
CBO | An Analysis of the President's 2013 Budget
This report by the Congressional Budget Office (CBO) presents an analysis of the proposals contained in the President's budget request for fiscal year 2013.
Blogs
Neighborhood Effects | Don’t Bailout the States
Last week the Illinois House adopted HR 0720 which was part of a growing effort to remove the possibility of a federal bailout for the states.
Marginal Revolution | Temporary vs. permanent increases in government spending
We make up for first-temporary-then-permanent spending boosts by a mix of growth and higher taxes. Krugman might well be happy with that scenario, but the data do show intertemporal interdependence for budgetary decisions, with a mix of persistence on one variable (spending) and mean-reversion on another (debt-gdp ratio).
