News
National Journal | Where Is Congress With Appropriations?
Both the House and the Senate appropriations committees are off to strong starts in the appropriations process for fiscal 2013. Will both chambers pass all 12 major bills before the end of the current fiscal year on Sept. 30? Probably not.
WSJ | Irish Voters Seen Passing European Union Fiscal Pact
Ireland headed to the polls Thursday for a vote on the European Union's fiscal treaty, designed to bring financial stability to the euro zone by binding countries to tougher rules on balancing their budgets. The treaty was expected to win approval handily, with voter turnout estimated at about 50%.
Bloomberg | U.S. Employers Add 69,000 Jobs, Fewer Than Forecast
American employers in May added the fewest workers in a year and the unemployment rate unexpectedly increased as job-seekers re-entered the workforce, further evidence that the labor-market recovery is stalling.
WSJ | Spain Says It Has Months to Raise Bank-Rescue Funds
Spain's government says it has until at least October to raise the funds it needs for the €19 billion ($23.5 billion) rescue of lender Bankia SA, a move government officials hope will let Madrid pick the right moment to raise funds from financial markets and explore other funding options as it aims to avoid an international bailout.
Econ Comments & Analysis
Forbes | Austerity With Growth? Easy To Achieve, But Witless Politicians Don't Know How
Now Europe’s leaders say they want “austerity with growth.” Sounds nice. They have no clue as to how to achieve it.
Blogs
CATO | Looking at Austerity in Spain
Spain is perhaps the weakest link in the Eurozone after Greece. Almost a quarter of its labor force is unemployed; its banking system is extremely vulnerable and it might collapse anytime; housing prices haven’t yet returned to normalcy after the burst of its real estate bubble; and the economy is in its second recession in two years and it’s expected to contract further in 2012 and maybe even in 2013.
