News
WSJ | Deficit Grows in Spain as Capital Flight Accelerates
Spain's central government reported a new deterioration in its finances and struggled to impose budget discipline on the country's restive regions as data showed a surge in capital flight from the euro zone's fourth-largest economy.
Market Watch | Congress strikes stopgap spending deal
House and Senate leaders on Tuesday struck a deal to fund the government for six months, a move that averts the threat of a shutdown in September and gives negotiators breathing room to hash out differences over looming tax hikes and spending cuts.
National Journal | Appropriations Status: Senate Panel Passes Defense Approps Bill
The Senate Defense Appropriations Subcommittee on Tuesday passed its defense funding bill, which the full Appropriations Committee is scheduled to mark up on Thursday along with legislation to fund the legislative branch.
Bloomberg | U.S. Treasury Plans Floating-Rate Notes in Year or More
The U.S. Treasury Department said today it is developing a floating-rate note program that could be operational in a year or more, while it is preparing for possible negative-rate bidding.
CNN Money | Deficit hawks: Now's not the time for austerity
Now is not the time for austerity. That's a message many independent fiscal hawks are sending as Congress continues to dawdle on a deal to avert the so-called fiscal cliff.
Econ Comments & Analysis
Politico | Fiscal cliff dive only way out
To be sure, the risks of going over that cliff are great. It means potentially pushing the nation into recession; contraction of gross domestic product by 1.3 percent; unemployment above 9 percent. But the rewards are also great.
Blogs
The American | The New ‘Buffett Rule’ Everyone Is Ignoring
Taking our eyes off the overwhelmingly important goal of returning the economy to robust growth is a waste of valuable time.
