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Tuesday, July 10, 2012

Budget

News                                                                                                                             
WSJ | Euro Zone Eases Budget Demand on Spain
Euro-zone finance ministers meeting here Monday gave Spain an extra year to bring its budget deficit back in line with the bloc's rules and promised €30 billion would be available by the end of July to start a big bailout of the country's banks
FOX News | Americans step up credit card use sharply in May
Americans put more on their credit cards in May than in any single month since November 2007, one month before the Great Recession began.
Bloomberg | Democrats to Risk Fiscal Cliff by Targeting Top Earners
Congressional Democrats have developed a get-tough strategy to try to force Republicans to go along with President Barack Obama’s call for higher taxes for the wealthiest Americans.

Econ Comments & Analysis                                                                                            
Real Clear Markets | The Fiscal Cliff: A Hard Landing Becomes More Likely
There is hardly an optimist so bold as to predict that the Congress and the President can make any real progress on our fiscal problems before the election. Both parties and all candidates in the 2012 elections are in their full campaign modes now.

Blogs                                                                                                                             
AEI | Not only did Obama ignore Simpson-Bowles, but now he’s doing the opposite of what they recommended
Once upon a time, President Obama created a debt reduction panel. And here is what the report of his National Commission on Fiscal Responsibility and Reform — a.k.a Simpson-Bowles — recommended on tax reform