News
Market Watch | Plan would give EU national budget powers: report
European leaders meeting later this week will consider a plan that would allow the European Union to rewrite national budgets for euro-zone countries that fail to meet debt and deficit rules, the Financial Times reported Tuesday, citing a draft report.
Bloomberg | Congress Said to Delay Automatic Budget Cuts Until March
Republican and Democratic congressional leaders are weighing whether to delay automatic federal spending cuts until March 2013, according to a House aide and industry officials who were briefed on the discussions.
Econ Comments & Analysis
Real Clear Markets | Message to Europe: Government Spending IS Austerity
A Wall Street Journal headline from last month, "Europe, in Slump, Rethinks Austerity", captures well the binary view of economic growth at the moment: spend or recess.
Washington Times | Constitutional fix to overspending
Tea Party members are going to be very unhappy. Many of the new members of the House and Senate that the Tea Party helped elect are already becoming part of the political class, as evidenced by their votes for continued farm subsidies, refusals to put reasonable limits on the growth of the food- stamp program, support for unaccountable international organizations, and on and on.
