News
Bloomberg | ECB’s Rescue Worsens Spain, Italy Maturity Crunch: Euro Credit
European Central Bank President Mario Draghi’s bid to bring down Spanish and Italian yields may spur the nations to sell more short-dated notes, swelling the debt pile that needs refinancing in the coming years.
Market Watch | There’s a 15% chance of falling off ‘fiscal cliff,’ J.P. Morgan says
Congress isn’t really going to let the so-called fiscal cliff — the planned tax hikes and spending cuts that will be triggered at the end of the year if no action is taken — be triggered, will they?
National Journal | Obama Signs Sequestration Transparency Act
President Obama signed into law on Tuesday the Sequestration Transparency Act, which requires his administration to provide details about how the looming $1.2 trillion in across-the-board budget reductions over the next 10 years will hit defense and domestic programs.
Real Clear Markets | The True Costs of the GM/UAW Bailout
The Obama Record: The administration claims to have saved the U.S. auto industry. What it really saved was the industry's dominant union - and it weakened capitalism in the process.
Econ Comments & Analysis
CRS | Continuing Resolutions: Overview of Components and Recent Practices
Congress uses an annual appropriations process to fund the routine activities of most federal agencies. This process anticipates the completion of 12 regular appropriations bills to fund these activities before the beginning of the fiscal year.
CBO | Monthly Budget Review
CBO estimates in its latest Monthly Budget Review that the Treasury Department will report a deficit of $975 billion for the first 10 months of fiscal year 2012, $125 billion less than the $1.1 trillion deficit incurred through July 2011.
