News
CNN Money | Fiscal cliff: What you need to know
On Tuesday, House Speaker John Boehner all but promised an ugly fight over the debt ceiling this year unless GOP demands for spending cuts are met.
WSJ | Dutch Government Finalizes Austerity Package
The Dutch caretaker government has reached an agreement with opposition parties on the final details of an austerity package for 2013 that was outlined last month.
CNN Money | Federal Reserve concerned about fiscal cliff
At its last meeting in April, the central bank's top officials discussed how coming tax increases and spending cuts could weigh on the recovery, and debated whether the Fed should provide additional stimulus to spur consumer spending.
Econ Comments & Analysis
Bloomberg | Supply-Siders’ Case for Austerity Carries No Shame
Supply-siders prefer to be known as advocates of growth. Many conservative policy makers fear they will earn the disdain of the supply-side giants, the movement’s eminences, by pushing “budget cuts” instead of “growth.”
Washington Times | Jumping off the fiscal cliff
President Obama on Wednesday found out what congressional leaders thought of his gimmicky “to-do” list. The country is headed over a fiscal cliff, and House Speaker John A. Boehner said the only list worth discussing would address the troubles that are going to hit by year’s end.
Blogs
Political Calculations | The Greek Budget Identity
We're not kidding when we say that Greece's government really turned the screws on its people with its VAT in 2011. That 4% increase in the rate of taxation should have increased its revenue from the tax by more than 21%.
WSJ | Fed Now Holds Very Few Short-Dated Treasurys
Thanks to Operation Twist sales, RBC notes that the Federal Reserve is entering a period with very little holdings of short-maturity Treasurys to roll into upcoming auctions.
