News
CNN Money | CBO: Fiscal cliff likely to cause recession
Trillions of dollars in looming tax hikes and spending cuts set to take effect next year would likely cause a recession, the Congressional Budget Office said Tuesday.
WSJ | Ex-Premier Says Greece Must Stick With Cuts
Greece's former Prime Minister Lucas Papademos on Tuesday warned that Greeks have no choice but to stick with a painful austerity program dictated by its lenders or face an exit from the euro zone that would devastate the economy, boost inflation and generate new social strains.
Econ Comments & Analysis
CATO | Baby Budget Hawks of the GOP
The conventional wisdom, pushed for very different reasons by both Republicans and Democrats, is that Republicans in Congress, controlled by radical tea-partiers, have been slashing government spending. Thus it becomes a little hard to understand how, in the few short months since last year’s debt-ceiling deal, the federal debt has increased by more than $1.5 trillion, roughly $13,000 per household.
Blogs
Coordination Problems | Is This How the Myth of the Laissez Faire Herbert Hoover Was Invented?
Following the debate over "austerity" in Europe these past few weeks has led me to wonder if we are witnessing once again how historical mythology gets created. By stating it this way I realize that I am siding with those who positioned themselves squarely opposed to Krugman's 'accounting' of contemporary policy history and the so-called 'savage cuts' that have been experienced in Europe.
Political Calculations | Spain: A Very Different Fiscal Crisis
Having looked at how Greece arrived at its current crisis, we thought we'd turn to the next country that is coming to dominate the bad economic news in Europe: Spain.
