News
WSJ | Japan's May Trade Deficit Larger Than Expected
Japan posted a larger-than-expected merchandise trade deficit last month, due to the country's first-ever trade shortfall with Europe and a surging energy import bill. The deficit was the biggest on record for a May period, the Ministry of Finance said on Wednesday.
Market Watch | Japan's trade deficit widens more than expected
Japan's trade deficit widened sharply in May to ¥907.3 billion ($11.47 billion), despite a strong rise in exports to the U.S., according to Financial Ministry data released early Wednesday.
WSJ | Canada Invited to Trans-Pacific Partnership
Canada will join the U.S. and several Asian nations in a group that is negotiating a trans-Pacific trade pact, Prime Minister Stephen Harper said Tuesday.
Washington Times | Draft: G-20 will produce plan for global growth
The leaders of the world’s largest economies will say they are united behind efforts to boost growth and job creation to repair a global economy roiled by fears over the European financial crisis, according to a draft of the statement to be released Tuesday at the end of the Group of 20 annual meeting.
USA Today | Housing isn't a buyer's market for many first-timers
As the nation's housing market shows signs of bottoming after years of declining prices, many first-time buyers such as Dorado are getting a rude awakening. Instead of having their pick of homes to buy in some markets, they're losing houses to cash buyers and bidders with bigger down payments, or they're facing bidding wars spurred by shrinking numbers of homes for sale.
Econ Comments & Analysis
Washington Times | States don’t need more stimulus
The president has given a long list of excuses for the shape of America’s struggling economy. He has cited high energy costs, the debt crisis in Europe and, of course, George W. Bush and the evil House Republicans for not passing his agenda.
CRS | Changes to the Residential Mortgage Market: Legislation, Demographics, and Other Drivers
This report provides an overview of the changing residential mortgage market, focusing on trends in housing prices, homeownership, mortgage characteristics, and financing. It also examines legislation and regulations designed to promote the efficient functioning of the mortgage market.
WSJ | Food Stamp Fiasco
The next time someone moans about Washington "austerity," tell them about the Senate's food stamp votes on Tuesday. Democrats and a few Republicans united to block even modest reform in a welfare program that has exploded in the last decade and is set to spend $770 billion in the next 10 years.
Blogs
Heritage Foundation | Morning Bell: Obama’s War on Domestic Energy Production
Today, the Senate will vote on the fate of one of the most expensive regulations of all time–a regulation that threatens to create an America with no new coal-fired power plants, where existing energy producers might have to close their doors, snuffing out jobs and making electricity dramatically more expensive.
CATO | A Few Questions for Paul Krugman
I am not a budget expert, but I saw Paul Krugman interviewed on the PBS Newshour program last evening and had a few questions.
Political Calculations | The Economic Effects of Today's Falling Gasoline Prices
Good morning, White House Staffer! We appreciate your daily visits, as you continue your ongoing efforts to closely monitor the U.S. gasoline price situation. We have, after all, tailored our top-of-the-page "Good Morning, White House Staffer" feature specifically to assist you in your daily task.
