News
USA Today | Heavy debt loads may be holding down consumer spending
Households have whittled down the massive debt they racked up in the mid-2000s credit bubble, but apparently not enough to nudge them into a spending binge that could jump-start the recovery, some economists say.
Econ Comments & Analysis
Bloomberg | Spain Rules Out Bailout as De Guindos Says Banks Funded
Spanish Economy Minister Luis de Guindos ruled out seeking a bailout hours before Standard & Poor’s cut the country’s credit rating to three levels above junk and a report showed unemployment jumped close to a record.
Blogs
Tax Foundation | CBO: President’s Budget Worse than Taxmageddon
The Congressional Budget Office (CBO) has released their estimate of the economic impact of the President's 2013 budget. It's not good. It's not even good relative to Taxmageddon, which is the roughly $500 billion tax increase scheduled to happen at the end of this year due to expiring provisions such as the Bush tax cuts, the payroll tax holiday, and the Alternative Minimum Tax (AMT) patch.
The American | Why Hubbard is right, and Geithner and Goolsbee are wrong
President Obama’s budget proposes to continue elevated levels of federal spending relative to GDP. So how does the president propose to pay for this?
Think Markets | European Austerity in Perspective
Attempts to rein in government spending necessarily have unpleasant side effects. Thus the Dutch government collapsed amid budget talks to control the deficit. And British national output appears to be shrinking.
