News
NY Times | Crop Insurance Proposal Could Cost U.S. Billions
At the same time that high crop prices are prompting farmers to expand into millions of acres of land once considered unsuitable for farming, Congress is considering expanding a federal insurance program that reimburses farmers for most losses or drops in prices.
CNN Money | Spain debt auction seen as a success
Spain found strong demand for its debt in a successful auction Thursday, two days after its treasury minister warned that the country was in danger of being shut out of markets for the cash it needs to operate.
Politico | Secret talks under way about 'fiscal cliff'
A growing number of lawmakers are alarmed that Congress’s do-nothing posture ahead of the year-end fiscal cliff could provoke a massive voter backlash and economic catastrophe if they don’t start laying the groundwork right now to cut a deal.
CNN Money | Huge government pension gap sparks backlash
Pensions and other retirement benefits have become a multi-trillion-dollar black hole for state and local government budgets, sparking fierce battles between elected officials and voters on one side and public sector unions on the other.
Econ Comments & Analysis
CBO | Changes in CBO's Baseline Projections Since January 2001
Each year, the Congressional Budget Office (CBO) issues baseline projections of federal spending and revenues for the following 10 years. Those projections are not intended as a forecast of future outcomes; rather, they are estimates of spending and revenues under the laws that are in effect at that time and are designed to provide a benchmark against which to measure future policy changes.
Blogs
National Review | Yes, Public-sector Austerity Can Work
Today is a good day. Two separate media stories have acknowledged that public sector austerity — meaning spending cuts rather than tax increases — can actually bring debt-to-GDP levels down, and it may even produce economic growth.
