Econ Comments & Analysis
CNN Money | Commentary: Another reason to fear the fiscal cliff
If Democrats and Republicans fail to figure out a way to avert the fiscal cliff before the end of this year, they are fooling themselves if they think they'll be able to clean up the mess easily when Congress gets back in January.
CNBC | Is Spain Stumbling Towards a Full Bailout?
Spain seems to be stumbling towards a full bailout, and its politicians appear to be gently prodding it along.
Investors.com | Business Fears The Obama Cliff, Not the Fiscal Cliff
The New York Times says businesses are cutting back because of the "fiscal cliff" of spending cuts and tax hikes that'll kick in should Congress remain gridlocked. But what worries businesses more is the Obama Cliff.
Reason.com | How The Looming "Fiscal Cliff" is Killing Business Investment
The federal government has failed to even vote on a real budget in over three years, the economy is in the tank, the fall election pits the Wolf Man versus Frankenstein's monster and come January 1, 2013, current tax rates revert back to much-higher (and less progressive!) levels from the Clinton days while automatic spending cuts kick in. This is the "fiscal cliff" that Fed head Ben Bernanke warns about.
Forbes | Federal Spending: Killing the Economy With Government Stimulus
In 2008 federal red ink was “only” $479 billion. Since then Uncle Sam’s annual deficit has exceeded a trillion dollars. In addition, the Federal Reserve launched a massive “stimulus” campaign—costly bail-outs and mortgage purchases, near zero interest rates, and two rounds of “quantitative easing.”
