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Wednesday, March 21, 2012

Budget

News                                                                                                                             
FOX News | Obama debt hole deeper than George W. Bush's in less than half the time
President Obama once asked a campaign crowd in 2008 what to do when you're trying to get out of a hole. Uniformly, the crowd responded: stop digging
National Journal | Main Differences in Ryan's 2013 Budget Versus the 2012 Plan
House Budget Committee Chairman Paul Ryan, R-Wis., doesn’t just put together a one-year budget; he drafts a manifesto on the size and role of government, shaping it over a decade. Yet while many of his fiscal year 2013 budget’s central tenets go hand in hand with the main elements of his 2012 budget, a few changes stand out

Econ Comments & Analysis                                                                                            
Washington Times | If conservatives ran Washington
House Budget Committee Chairman Paul Ryan returned to the stage on Tuesday to call for more entitlement reform, spending restraint and lower tax rates.
CBO | The Long-Term Budgetary Impact of Paths for Federal Revenues and Spending Specified by Chairman Ryan
At the request of the Chairman of the House Budget Committee, Congressman Paul Ryan, the Congressional Budget Office (CBO) has calculated the long-term budgetary impact of paths for federal revenues and spending specified by the Chairman and his staff.
AEI | Ryan's budget kicks the can at timorous Democrats
As I listened to House Budget Committee Chairman Paul Ryan describe his latest budget plan in a speech at American Enterprise Institute on Tuesday, I couldn't help thinking how different things will be in Britain today when Chancellor of the Exchequer George Osborne steps out of Number 11 Downing Street with a battered red briefcase holding his budget for the forthcoming year.

Blogs                                                                                                                             
CATO | Paul Ryan’s Budget: It’s Still Big Government
Chris Edwards provided an ample overview of Rep. Paul Ryan’s (R-WI) budget proposal, so I won’t rehash the numbers. Instead, I’ll just add a few comments.
Economist | Don't panic
Have you heard? Over the past couple of weeks there's been a major sell-off of government debt. Just look at what's happened to the 10-year Treasury
Keith Hennessey | How will President Obama respond this year to Chairman Ryan’s lower deficits and debt?
House Budget Committee Chairman Paul Ryan’s newly released budget poses an identical strategic challenge to the President as last year.  I recommend you watch the President carefully this week to see whether and how he responds.
Marginal Revolution | More on the time-dependence of fiscal policy
This paper documents the systematic response of postwar U.S. fiscal policy to fiscal imbalances and the business cycle using a multivariate Fiscal Taylor Rule.
CATO | Paul Ryan’s Spending Plan
House Budget Committee chairman Paul Ryan (R-WI) has introduced his annual budget blueprint. The plan will likely pass the House but won’t become law this year.
The American | CBO report shows how new Ryan budget plan puts U.S. on path to solvency
The Congressional Budget Office is out with its take on Representative Paul Ryan’s (R-Wisconsin) 2013 budget plan, an updated version of his Path to Prosperity